Swanky 12-story condo project near River Oaks planned for fall groundbreaking

A new luxury high rise near San Felipe is expected to break ground this fall after developers recently opened a new on-site sales gallery. Randall Davis, a prominent Houston real estate developer, has presold about 20 percent of the units in a proposed 12-story condominium tower overlooking the River Oaks and Hyde Park neighborhoods. The goal would be to hit 30 to 35 percent presales prior to starting construction, a spokesperson said. Called London House, the 23-unit project is planned at 2323 San Felipe, about mile from River Oaks Country Club to the east of Kirby Drive. The design includes condominium homes ranging in size from 2,725 square feet to 4,257 square feet. Price tags for the standard 19 residences start at $1.5 million and for the four penthouses start at $3.8 million. “Our goal is to create a smaller, more exclusive residence in a fabulous location with unobstructed views of River Oaks,” said Randall Davis, who is developing London House with his daughter, Natalie, in a statement. RECORDS: Houston home prices hit record highs, but sales slow for the first time this year Plans for London House come after the pandemic squashed a previously announced project by Randall Davis, called The Paramount, which had been planned on Westheimer. That proposed 25-story project is not expected to be resurrected, a spokesperson said. The property already was sold to a Mexico-based furniture importer, according to media reports. The London House instead is a smaller project launched at a time of limited supply and rising prices in Houston. The supply of condominiums and townhomes on the market fell to 1.5 months in April, meaning it would take just over a month to sell through all the current condos and townhomes on the market if sales continued at their current pace, according to data from Houston Association of Realtors. Townhome/condo sales – which include resales and non-luxury units – rose 3.4 percent in April with the average sale price up 11.6 percent year-over-year to a record $273,575. Randall Davis’ previous projects include more than 15 buildings in Houston, including the Arabella in the Galleria/Post Oak area, the Astoria, Marlowe Downtown, Renoir, Gotham, Metropolis and Rice Lofts. PODCAST: Is FOMO home-buying driving a housing bubble? For London House, the developer has opened an onsite sales gallery for the project in the same building as the existing art gallery, the Meredith Long Gallery, a spokesperson said. Compass Real Estate’s Laura Sweeney and Tommy Kanarellis, a seasoned agent specializing in condominiums, are co-listing the boutique community. Construction is expected to be complete about 18 months after groundbreaking, the developer said. The coronavirus inspired developers to incorporate health and safety elements into the design with ionizers in return air grills, sanitizing lights in kitchen drawers, touchless toilets and faucets, germ-free handles in powder baths and Nest thermometers with remote control capabilities. The homes are also designed with gas fireplaces, ceiling heights ranging from 11-feet to 13-feet, solid-core doors and terraces with the option to add an outdoor kitchen for early buyers and customizable Eggersmann cabinetry. John Cadenhead of Houston-based Goree is the architect and G.T. Leach Construction is the general contractor. The 70,000 square-foot tower's design take inspiration from the Cheslea neighborhood of London. “Every element of the building, from the high-quality design to the state-of-the-art amenities, has been thoughtfully curated to cater to those seeking a luxurious lock-and-leave lifestyle,” Davis said. - Swimply for pool lovers: Houston homeowners are making money off the 'Airbnb for swimming pools' - Our obsession with new buildings, McMansions is driving up emissions - Houston homebuyers grasping for any deal in red-hot market may get shut out by higher mortgages - Exclusive: New homebuyers are getting shut out by investment firms. Mattress Mack wants to turn the tables. - Home organizing's new pandemic variant: Adding more coffee bars and charging stations

Swanky 12-story condo project near River Oaks planned for fall groundbreaking

Randall Davis plans swanky 12-story new condo project near River Oaks

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