Posted Nov 15, 2023, 9:11 PM
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FYHA
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Join Date: Oct 2007
Location: Houston - Wichita, KS
Posts: 3,216
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The Woodlands
Quote:
Austin-based XSpace to bring flex-space condos to Houston, The Woodlands
By Florian Martin – Reporter, Houston Business Journal
Nov 15, 2023
An Austin-based company is bringing two innovative new flexible-space facilities to the Houston area.
XSpace Group, founded in 2019, plans to break ground on XSpace Houston at 7022 Old Katy Road in December and on XSpace The Woodlands at 9275 Six Pines Drive in The Woodlands Town Center in the first quarter of next year.
The facilities offer drive-in condominium units for sale for whatever non-residential use the buyer wishes.
In Austin, where the company completed its first project last year, some of the users include media companies that use the space for podcast production, direct-to-consumer businesses that combine units for their headquarters, 3D printing companies, car collectors, and celebrities that turn their space into man caves with plunge pool, gym and sauna, said XSpace founder Byron Smith.
“The common denominator is (users who are) cool, interesting, successful people — be that businesses or otherwise,” he said.
Units at the four-story, 120,000-square-foot XSpace Houston, slated to be complete in December 2024, will be customizable from 400 to 10,000 square feet and include mezzanine floors for flexible use. There are 86 units overall, 35% of which are pre-sold.
In The Woodlands, XSpace has partnered with Howard Hughes Holdings Inc. (NYSE: HHH) to develop the three-story, 80,000-square-foot facility on a 2-acre parcel Howard Hughes owns next to the Hilton Garden Inn Houston/The Woodlands.
The plan is to complete The Woodlands project in the first quarter of 2025.
“The Woodlands continues to attract innovative companies that are seeking to provide unique offerings to our community,” Jim Carman, Houston region president at Howard Hughes, said in a statement. “We welcome XSpace as a new type of commercial option that offers our residents and businesses unique spaces in which to pursue their passions and enhance their quality of life.”
The 60 condos in XSpace The Woodlands are about 950 square feet but can be combined with adjacent units for more space. Users will be able to drive in with their car and park either inside their unit or outside of it.
The ground-floor units have 20-foot walls and include mezzanine space, while the top floor has penthouse units with terraces. Pricing starts at $450,000 for a unit, Smith said.
Building amenities include conference centers, kitchenettes and restrooms with showers on every floor.
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