HOUSTON –Midway Cos. will develop Avenue Grove, a 270-unit multifamily project to its Kirby Grove mixed-used development near Kirby Drive and Richmond Avenue in central Houston.
With construction of an office tower well under way at Kirby Grove, Midway is beginning site preparation for the apartment project, on prime site on the southwest corner of Eastside Street and Levy Park.
The eight-story residential project will have access to green space in addition to the retail, restaurant and entertainment offerings within Kirby Grove and the surrounding Upper Kirby District. Equity is being provided by institutional investors advised by J.P. Morgan Asset Management, and construction financing is being provided through Cadence Bank.
The first phase of delivery is slated for fall 2015, and completion is anticipated in summer 2015. Levy Park renovations will debut as soon as spring 2015.
According to Jonathan Brinsden, Midway’s Chief Executive Officer, “Avenue Grove not only marks the beginning of a new relationship with Midway and J.P. Morgan Asset Management-Global Real Assets, but also realizes our goal of activating Levy Park through Kirby Grove, creating a thriving, 24-hour urban campus.”
Designed by Houston-based munoz albin – HOUSE + partners serves as the architectural firm of record – Avenue Grove was conceived to maximize its park side orientation, while providing an engaging and visually pleasing perimeter buffer for pedestrians.
The “E” formation of the residential floor plates greatly increases the number of units with park views in addition to creating a number of expansive, private terraces. The six levels above the podium will encompass one and two-bedroom plans, plus studios with sleeping nooks starting at 620 square feet.
“There are few places in the inner loop – or Houston for that matter – that offer so many amenities at one’s doorstep. We see Levy Park being an incredible leasing asset for Avenue Grove with its year-round programming, dog park, performance pavilion, event lawn, community garden and playscapes,” says Upper Kirby’s President and Executive Director, Jamie Brewster.