According to the Houston Chronicle, Gables Residential has broken ground on a 14-story luxury apartment building along Houston's West Loop, a project that has been on hold since 2015 when energy prices slumped. “A lot of inventory will have been absorbed,” said Micah Conn, development director for Gables Residential. “And no one knows for sure, but it seems like oil has stabilized.” The building was designed by Ziegler Cooper.
The project, which will have 295 units averaging 1,539 square feet, will be Gables’ first high-rise in the Houston market. It will target professionals and empty nesters. The building will have concierge services, a rooftop swimming pool and outdoor kitchen, as well as a fitness room, bicycle storage and workshop and a club room for resident gatherings.
The project’s location on Westcreek has become a hotbed of high-rise construction in recent years. In addition to the newly opened Arabella condominium tower, Gables’ neighbors will include the SkyHouse apartments and the Wilshire condominiums.The Houston apartment market has changed drastically in recent years. Before Hurricane Harvey, there was a glut of units left over from developers starting projects when oil was at $100 a barrel.
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