HOUSTON – (Realty News Report) – Madison Marquette along with investment partner AECOM Capital, celebrated the topping out of a 30-story for-rent residential high-rise located on a 1.16-acre site at 3300 Main Street in Houston’s Midtown district.
The tower, The Travis, and will include 328 multifamily units and 15,000 SF of ground-floor retail.
“Having achieved this significant construction milestone, we are on-track for a spring 2020 opening, and will open our leasing office in October,” said Bryant Nail, Madison Marquette’s Executive Vice President of Multi-family Development. “We broke ground in May of 2018. We’ll get our first 11 floors ready for occupancy the first of February. We’ll finish up at the end of May.”
The location, which is adjacent to a METRO rail line, is an ideal dwelling location for young professionals, said Mayor Sylvester Turner, in on-site remarks Tuesday. A ceremonial beam, signed by attendees, was raised into place in a topping out event to recognize construction progress. Barbecue was served to hundreds of construction workers.
AECOM Hunt is the general contractor for The Travis, which was designed by CallisonRTKL. The Travis will be a LEED Gold building, signifying its sustainability and energy efficiency.
Goldman Sachs providing financing for the project.
Madison Marquette vice chairman Rick Kirk commented that financing for the tower was arranged as the Houston economy was recovering from a downturn and a sharp drop in oil prices. The deal was started prior to the 2018 merger of Houston-based PMRG and Washington DC-based Madison Marquette.
The Travis is located on a 1.16-acre block bounded by Main, Travis, Stuart and Francis streets. The site is one block south of Elgin Street in Midtown, where there is a significant amount of new multifamily by Camden, Morgan and Caydon and others.
The block was acquired in 2015 from the City of Houston, which had vacated the property several years before. The city’s old building there, now demolished, had been used by the city’s permit department and a police firing range was located there also.
The METRO rail line will make it easy for residents to commute to work from the new apartment tower.
“The topping out of The Travis marks a changing point in the burgeoning neighborhood of Midtown Houston. Located between Downtown Houston and Texas Medical Center, two of largest employment districts in the city, it will provide prospective tenants with unparalleled access to these key areas,” said Timothy D. Haskin, senior managing director of AECOM Capital.
Units in the building will average 1,114 SF. The tower will have a two-story fitness center and lounge, and a 3/4-acre pool and amenity deck.
The leasing office for The Travis, 3219 Milam St., will open on October 1.
Sept. 11, 2019 Realty News Report Copyright 2019
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