Commercial Ground-Up Construction02/24/2020
Parkview Financial, a private construction lender based in LA, provided a $38MM loan for the development of a 126,500-square-foot, mixed-use multifamily project in the Montrose/River Oaks submarket of Houston, TX. The six-story apartment building will include 168 residential units, more than 20,475 square feet of ground-level retail space, and an above-grade parking structure with 305 spaces. The tenant amenities will include a rooftop deck, resort-style pool, outdoor kitchen, fitness center with vinyl plank flooring, clubhouse with quartz surfaces, business center, lush landscaping, dog park, outdoor space with stadium seating, and a leasing office. Each unit will include a full stainless-steel appliance package in the kitchen with an electric range and oven with vent-hood and built-in microwave, and a washer and dryer in the unit. Select units will feature balconies or private patios. Construction commenced in early 2020 with anticipated completion for mid-2021.