The Revere

Posted 04/03/2019

River Oaks luxury condo to top off this month

By Fauzeya Rahman – Reporter, Houston Business Journal

April 1, 2019

A River Oaks luxury condo will top out later this month with first units ready for move-in a year from now. The Revere, a 30-unit condo at 2325 Welch, is currently 70 percent pre-sold, said Derek Darnell, president of Pelican Builders, in an email.

Currently Houston-based Pelican is pouring out the eighth floor of the nine-story building the developer described as reminiscent of a sophisticated Park Avenue walk-up. It recently filed a building permit for $17 million for mainly interior unit work, Darnell said.

Units started around $1.6 million, the Houston Business Journal previously reported, with homeowner association fees around 60 cents per square foot.

The high-end units will feature 11-foot high ceilings with plenty of space for art enthusiasts to display their collections. Large windows will give residents views of River Oaks and Montrose. The luxury units will feature hardwood floors, custom wood cabinets, Sub-Zero and Wolf appliances and fireplaces. Units vary in size from 2,800 to 3,800 square feet.

Houston-based Kirksey Architecture designed the project while Houston- based Ludlow & Associates Construction LLC is the general contractor. IBC Bank provided the construction loan.

In January, Pelican secured a $7.3 million non-recourse land loan to buy a tract at 5656 San Felipe St. for a new 17-story condo tower with 67 luxury residences. On-site amenities will likely include a pool deck, resident lounge, fitness center and a dog park.

Last March, Robert Bland Sr., founder and principal of Houston-based Pelican Builders, sat down with HBJ to discuss how he thinks condos will define the future of living in Houston.