HOUSTON--(BUSINESS WIRE)--Archstone—a leader in apartment investment, development and operations—today announced that it has begun construction on a new luxury apartment community located just blocks from the Texas Medical Center in Houston.
Archstone’s newest community in Houston will be located on the northeast corner of N. Braeswood Blvd. and Brompton Rd. When complete, the community with 474 apartments for rent will be a 5-minute drive from the Texas Medical Center, which is currently home to 49 member institutions that employ more than 93,000 people.
“In addition to its already impressive employment base, the Texas Medical Center is in the midst of a growth plan that is expected to generate an additional 6 million square feet of research and medical facilities and nearly 30,000 jobs,” said Neil Brown, Archstone’s chief development officer. “Our new luxury apartment community will be very conveniently located to one of the largest employment centers in Houston, and the largest medical center in the United States, which will provide outstanding convenience to our residents.”
The Archstone location, which is just south of the West University neighborhood, also offers easy access to Rice Village, home to more than 300 unique retail establishments. Adjacent to Rice University, the Village boasts a wide-variety of boutique shops, trendy retailers, locally owned and operated restaurants and popular night-life venues.
Through architecture reflecting a Mediterranean flare, Archstone’s new community will complement the area’s eclectic ambiance with its exclusive amenities and well-appointed finishes. Among the amenities being constructed are five courtyards, a resort-style pool with poolside barbecue grills, a Click Café with free WiFi and a modern fitness center with free weights.
“This community has been meticulously designed to meet the needs of the many working professionals who will soon call it home,” said Jay Curran, Archstone’s vice president of development for the region. “Although all of the amenities will provide the convenience and utility these professionals expect, the five lush courtyards will inspire them with a resort-like ambiance they seek when on vacation.”
Inside the apartments, residents will enjoy spacious floor plans, European-style cabinetry, stainless steel appliances, granite countertops, large walk-in closets, outstanding amenities and much more.
Cushman Wakefield Sonnenblick Goldman helped secure the financing on Archstone’s behalf from Wells Fargo Bank and CrossHarbor Capital.
About Archstone
Archstone is a recognized leader in apartment investment and operations. The company's portfolio is concentrated in many of the most desirable neighborhoods in and around Washington, D.C., Los Angeles, San Diego, San Francisco, New York, Seattle and Boston. Archstone strives to provide great apartment rentals and great service to its customers—backed by service guarantees. As of March 31, 2011, the company owned or had an ownership position in 428 communities located in the United States and Europe, representing 76,891 units, including units under construction. Utilizing this tremendous amount of expertise and institutional knowledge, Archstone now also offers comprehensive advisory services to owners and lenders who want to maximize the value of their assets through Archstone Real Estate Advisory Services.