HOUSTON | Legacy at Memorial | HEIGHT | 25 FLOORS | T/O
 

Globe Street is reporting that Legacy Partners has purchased the land and plans from Fairfield Residential and will break ground on The Legacy at Memorial in Sept.

http://www.globest.com/news/876_876/.../159431-1.html

The Legacy at Memorial will have 274 apartments in a 25 story tower, 60 loft units in an adjacent wood framed building, and an 8 story parking garage. The location is on the corner of Studemont and Memorial Drive, just west of downtown and overlooking the Buffalo Bayou park area.

WDG Habib of Dallas is the architectural firm on record.
EE Reed will be the lead contractors.

Here's a look at a rendering of the old Fairfield project. I get the sense that Legacy purchased this design and this will be the final result...
http://www.hayneswhaley.com/project_...rialCondos.jpg

Good news

Thanks, Shasta.

I thought it would be appropriate to bring this topic back since this thing may be close to having some activity on it. The last time there was something happening was back in September or October when the last remnants of the old manufacturing structure were being cleared away and some of the older trees were taken out.

Since then, essentially nothing has happened. In fact the gates to that plot of land have been wide open much of the time. Within the last week or so, it appears a number of backhoes are now on the site and obviously the gates are locked. Hopefully that means we'll be seeing some site prep soon.

Great location for a view of downtown!

Any word on why Fairfield sold?

Tid bit on this : Fairfield built "The Milago" in Austin. Across the street from The Milago is a project called "Legacy", currently working on floor 8. Kind of like those Kennedy -vs- Lincoln twilight zone similarities. :)

looks good.

Which addresses my question.... wanted to know if this was indeed related to the Legacy project in Austin! Thanks!

Great news. This one will stand out for sure. Great views as well, heck great views all around from DT to the MC to UpTown...

:yes:

I always loved the names of Inner Loop streets in Houston.

Studemont... Hazard... Buffalo Speedway...

:haha: Drove down them thousands of times but never gave it a thought. Always in too big of a hurry I guess!

Studemont or Studewood? It's your call. :)

How has no one mentioned Waugh or Tuam!?! :haha:

It looks like this one is getting started. The construction company's sign is up and the bulldozers are starting on clearing and excavating at the moment.

Overview of the site from this afternoon...

http://i177.photobucket.com/albums/w...acy011308C.jpg

http://i177.photobucket.com/albums/w...acy011308D.jpg

http://i177.photobucket.com/albums/w...acy011308B.jpg

http://i177.photobucket.com/albums/w...acy011308A.jpg

Oh nice pics. This is gonna be fun. I pass by this location every day...

:cool:

It looks like there are a number of large dump trucks moving a lot of dirt off the site every few minutes today. Can't say I've ever seen that kind of action before on any site. Or I just haven't paid that much attention...

Either way, very :banana: worthy news so far!

The Washington Avenue, Rice Millitary and West End areas are realling blazing right now. Miles of construction. I can't wait to see this area once retail/shopping centers fills up the vacant buildings/lots that have been bought up over the last 5-7 years (especially along Washington).

Was in Houston over the weekend. I can't believe I forgot about Fuqua and FuKim.

Saw a comedian one time and he said people in Houston really know how to greet a visitor. First thing after he exited Hobby and headed south was a nice big sign that said Fuk ya. He was from Philly, and said after the sign he felt right at home.

http://www.globest.com/news/1082_108.../167822-1.html

Last updated: January 28, 2008 08:09pm
Legacy, CalPERS Starting $75M Residential Tower
By Amy Wolff Sorter

HOUSTON-Legacy Partners Residential Development Inc. and equity partner CalPERS have cleared the site and are preparing to break ground on their 330-unit Legacy at Memorial. The project, which will exceed $75 million of all-in costs, has 15% of the apartments dedicated for affordable housing.

The partnership acquired the 3.3 acres at Studemont Street and Memorial Drive in April 2007, with plans to break ground last September. "It took awhile to redesign the building and rework the plans," explains Spencer Stuart Jr., senior vice president and Texas partner for the Foster City, CA-based Legacy Partners tells GlobeSt.com.

"There used to be an old brickyard factory on the site, then it was a paper recycling plant," Stuart explains. "All of that was long gone by the time we bought the land, but we had to excavate the soil and remove it because it was filled with old pieces of brick. It wasn't suitable as a foundation for the project."

With the project nearing its groundbreaking, Stuart estimates completion will be November 2009. Legacy's plan is to hold onto the high rise through lease-up, but Stuart says he'll look at viable offers.

"This is a great luxury project that will give some people a very nice place to live at an affordable rate," Stuart adds. Legacy at Memorial will have a three-bedroom penthouse, totaling 3,568 sf, and the balance will be one- and two-bedroom units, starting at 868 sf. Projected rents are $1.26 per sf to $2.20 per sf.

Milestone Management LP in Dallas will be the property manager. Houston-based EE Reed Construction LP is the general contractor for a tower designed by WDG Architecture Inc., also from Dallas. Capmark Financial Group Inc. of San Mateo, CA is the lender for the construction loan.

Some photos from yesterday of the rather large drilling equipment now on site. The markings that were spray painted on one side show it to be roughly 90-100 ft in length, so the real excavation should be underway shortly.

http://i177.photobucket.com/albums/w...n/DSC02535.jpg

http://i177.photobucket.com/albums/w...n/DSC02531.jpg