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Morgan Group to Break Ground on 376 Apartment Units in Houston’s Westchase District; Another Extension of ‘Pearl’ Brand

HOUSTON – The Morgan Group will break ground in the first quarter of 2014 on a 376-unit apartment development called Pearl Woodlake located at 2033 South Gessner Rd. in Houston’s Westchase District. Morgan launched the Pearl brand last summer with the opening of Pearl Greenway in Houston’s Greenway Plaza.

The Westchase District, which is bisected by the Sam Houston Tollway, is the site of a number of new office developments. Phillips 66 just broke ground for a new multi-building corporate campus in Westchase, for example. And Cameron International purchased land for another corporate campus.

“The Westchase District has become one of the strongest office markets in Houston, which is driving demand in the area for more luxury apartments,” said CEO Mike Morgan. “This property will be a popular choice for those who value a live-work-play environment in one of the city’s most vibrant neighborhoods. The amenities at Pearl Woodlake will be first class. Aside from close proximity to growing employment centers in West Houston, the property is a short drive away from popular retail destinations, including CityCentre, Memorial City and The Galleria.“

Construction financing for the Woodlake property, which is scheduled to open in Summer 2015, is being provided by Regions Bank.

Pearl Woodlake will contain studio, one-, two- and three-bedroom units, ranging from 607-1693 SF. Premium Pearl amenities feature open floor plans, kitchen islands in select units, under-mount kitchen sinks, high-end wood style floors, full size washers and dryers, walk-in closets, side-by-side refrigerators/freezers, contemporary track and pendant lighting, patios and balconies in select units, and USB outlets.

Rents for Pearl Woodlake will start around $1,250 per unit and go up to $2,600 per unit. The project will have ool courtyard with outdoor kitchen and poolside cabanas, grilling stations, a dog park, an e-lounge, club room and sports pub/lounge, eVgo car charging stations, and a platinum athletic club with private spin bike studio.

Since 1988, Morgan has developed more than 15,000 units at a cost of more than $1.7 billion. More than 2,500 units are in the planning or construction stages in Texas and Florida

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