CRESCENT COMMUNITIES SET TO START CONSTRUCTION ON MIXED-USE HUB IN HOUSTON

  • 01/25/2019

Crescent Communities Set to Start Construction on Mixed-Use Hub in River Oaks

NOVEL River Oaks to pay homage to the location’s history with updated concept blending gracious living with today’s live, work, play lifestyle

HOUSTON (February 5, 2019) – Crescent Communities today announced the start of site work and plans for a new mixed-use hub in one of Houston’s most desirable neighborhoods.   NOVEL River Oaks, located across Willowick Road from River Oaks Baptist school on the north side of Westheimer, is designed to offer a uniquely-crafted live, work, play experience that is inspired by the distinctive history of River Oaks.  The 8-story project will feature a mix of fine apartment homes and lifestyle restaurant and retail space that will complement the surrounding community.  

NOVEL River Oaks will occupy a prime location on the former site of The Georgian, an apartment community that originally opened in 1963.  The Georgian was heralded for its gracious living concept, complete with doorman service, lush landscaping, and modern touches like electric appliances and air conditioning. Five decades later, Crescent will pay homage to that legacy and to the surrounding neighborhood with a project that has many of the same elements – a restrained scale, gracious living, bespoke service, and lush landscape befitting one of the nation’s iconic garden district neighborhoods.  The new community plan focuses on walkability and neighborhood-serving retail experiences that reflect the preferences and conveniences of a more urban lifestyle.

“Given the attributes and size of the site, there was certainly the temptation to build more and build higher, but we just always felt like a building of upmost quality at a more restrained scale was the right way to honor the story of the property and align with the legacy of such a thoughtfully-planned neighborhood.” Said Michael Blackwell, Managing Director for Crescent Communities. “From the beginning, we stuck to the idea of a classic, modern building that was as much about the pedestrian environment under the fabulous live oaks along Wickersham and the neighborhood dining experience just off Westheimer, then it ever was about the density we could pack on a landmark site.” 

Anchored by generous greenspace and designed to blend with the mature, tree-canopied landscape, NOVEL River Oaks will be comprised of approximately 330 residential units, including a row of 2-story brownstone style townhomes, along with 14,000 sq. ft. of retail and restaurant space along Westheimer. 

In keeping with Crescent Communities’ legacy of developing luxurious retreats, residences will feature high-end, on-trend finishes, and the community will have a host of resort-like amenities and an understated elegance reminiscent of its predecessor, including concierge and valet service, as well as fresh touches like a boutique health club, private pet park, penthouse clubroom, rooftop pool deck, and a resident dining terrace overlooking River Oaks and the Houston skyline.

“NOVEL River Oaks is a great example of the Crescent Communities’ careful approach to place-making,” commented Blackwell. “Taking into account the history of this property, we plan to create a residential experience that bridges a rich past with modern conveniences, and engages residents of the greater community, not only those who live on-site.”

Nationally, Crescent Communities has a growing multifamily footprint, including 6,000 units under construction and in operations, representing a total investment of $1.5 billion.  Active in the Houston multifamily market for over 5 years, Crescent Communities most recently developed Crescent Northpoint across from Springwoods Village in nearby Spring, Texas. 

More details will be available in the coming months, but NOVEL River Oaks is expected to deliver in 2020.  Drake Realty Group, LLC, facilitated the transaction as the sole broker among several parties with interests in the property.  Hoar Construction will serve as the general contractor and Ziegler Cooper Architects will continue to oversee design, including the Interiors.

About Crescent Communities

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of multifamily, commercial and mixed use communities with 20 multifamily communities currently under construction or in operation across the US.  Crescent creates high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. Since the company was founded in 1963, Crescent’s development portfolio has included more than 60 single family master-planned communities, 43 multifamily communities and nearly 21 million square feet of commercial space. Its multifamily communities are branded NOVEL by Crescent Communities. For more information, visit www.crescentcommunities.com. 

*Release edited on 2/5/2019 from 1/25/2019