Transactions - OCTOBER 15, 2019

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Australian developer completes $200m multifamily property in Houston

by Andrea Zander

Australia-based developer Caydon USA has completed the residential phrase of its first U.S. development, the $200 million Drewery Place, located in Midtown Houston.

The 27-story high-rise contains 13,000 square feet for retail on its first floor.

Drewery Place marks the first phase of Caydon’s planned 3.5-acre mixed-use development in Midtown, dubbed Laneways. The development will ultimately include three more high-rise apartment towers with space for retail, a condominium project and a boutique hotel.

The next phase of the development will begin in early 2020.

Earlier this month, Kimpton Hotels & Restaurants was announced as the hotel partner, which will be Kimpton’s first location in Houston. The company already operates a boutique hotel property in Austin and will open a Dallas location in summer 2020. The Midtown hotel will have 204 guest rooms, a signature restaurant and cafe, a rooftop pool and bar overlooking the city, and more than 14,000

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