A new luxury high-rise near San Felipe is expected to begin this fall after developers recently opened a new on-site sales showroom.
Randall Davis, a prominent Houston real estate developer, has previously sold about 20 percent of the units in a proposed 12-story condominium tower overlooking the River Oaks and Hyde Park neighborhoods. A company spokesman said the goal would be to achieve 30 to 35 percent pre-sales sales before construction begins.
Called London House, the 23-unit project planned at 2323 San Felipe, about a mile from River Oaks Country Club to the east of Kirby Drive. The design includes residential units ranging in size from 2,725 square feet to 4,257 square feet. Prices for 19 standard condominiums start at $1.5 million, and for four penthouses they start at $3.8 million.
“Our goal is to create a smaller, more exclusive residence in a fantastic location with unobstructed views of the River Oaks,” Randall Davis, who is developing London House with his daughter Natalie, said in a statement.
records: Houston home prices hit record highs, but sales slow for the first time this year
Entrance to the London House, a proposed 12-storey condominium project near the River Oaks.
Courtesy of Randall DavisThe London house plans come after the pandemic crushed a project previously announced by Randall Davis, called Paramount, which had been planned in Westheimer. A spokesman for this 25-storey project is not expected to be revived. The property has already been sold to a Mexico-based furniture importer, according to media reports.
Instead, The London House is a smaller project that was launched at a time of limited supply and high prices in Houston. The supply of condominiums and homes on the market fell to 1.5 months in April, which means it will take just over a month to sell through all existing apartments and homes on the market if sales continue at their current pace, according to data from the Houston Association. Brokers. Sales of condominiums/condos — which includes resales and non-luxury units — rose 3.4 percent in April with the median sales price rising 11.6 percent year-over-year to a record $273,575.
Randall Davis’ previous projects include more than 15 buildings in Houston, including Arabella in the Galleria/Post Oak area, Astoria, Marlowe Downtown, Renoir, Gotham, Metropolis and Rice Lofts.
Audio notation: Is buying a FOMO home driving the housing bubble?
For London House, the developer has opened an on-site sales gallery for the project in the same building as the existing art gallery, Meredith Long Gallery, a Meredith Long Gallery spokesperson said. Laura Sweeney of Compass Real Estate and Tommy Canarellis, a veteran agent specializing in condominiums, are involved in the boutique community’s listing.
The developer said that construction is expected to be completed about 18 months after work begins.
John Cadenhead of Houston-based Goree is the architect of the London House.
Courtesy of Randall DavisCoronavirus inspired developers to incorporate health and safety elements into the design with ionizers in reverse air grills, disinfecting lights in kitchen drawers, touchless toilets and faucets, germ-free handles in powder showers and Nest thermometers with remote control capabilities. The homes are also designed with gas fireplaces, ceiling heights ranging from 11 feet to 13 feet, steel core doors and balconies with the option of adding an outdoor kitchen for early buyers and customizable Eggersmann cabinets. John Cadenhead of Houston-based Goree is the architect and GT Leach Construction is the general contractor.
The design of the 70,000 square foot tower is inspired by the Chelsea district of London.
“Every element of the building, from high-quality design to state-of-the-art amenities, has been carefully designed to meet the needs of those seeking a luxurious lock-and-check lifestyle,” Davis said.
