Houston developer buys land for new luxury high-rise condo near River Oaks

Houston developer buys land for new luxury high-rise condo near River Oaks

Houston-based Randall Davis Co. bought a nearly half-acre tract of land at 3723 Westheimer and will start construction by the end of the year on a new luxury high-rise condo project, if all goes according to plan.

The developer closed on the site March 1, according to county clerk records. Randall Davis Co. bought the land from the entity Ascot Meadow LLC. JLL’s Mark Raines and Matt Parsons represented the seller, while Chip Nash, also from JLL, represented the buyer.

The site sits a couple blocks east of Weslayan Street and just east of Eastgrove Lane. A furniture store, Krispen Home, used to be at this location until it closed in January 2018.

The unnamed condo tower will either be about 22 or 26 stories high, said Randall Davis, a longtime Houston developer. The building height depends on whether or not the city of Houston planning commission approves the developer’s variance request for a reduced building line on Westheimer (10 feet instead of 25 feet), Davis said.

If the variance is approved March 14, the building will be about four stories shorter with fewer units. Either way, Davis said he will continue with the project.

“We’re requesting to be 15 feet closer to Westheimer so the building is more efficient and parking is more efficient,” Davis said. There will be a public hearing before the commission considers the variance.

In January Swamplot reported the site falls under single-family deed restrictions, but that doesn’t mean Davis can’t build on the site. Davis told the Houston Business Journal the land is unrestricted.

He said the project will be similar to his luxury high-rise Arabella, off Westcreek and San Felipe, but will be smaller and reflect a more classic and conservative design. Units in the planned condo project will average 2,800 square feet in size.

Houston-based Powers Brown Architecture will design the condo, and Houston-based GT Leach will be the contractor. A construction loan provider hasn’t been finalized.

By Fauzeya Rahman
Reporter, Houston Business Journal

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