Finalist: Grocery-anchored vertical mixed-use projects break ground
The skinny: Two grocery-anchored mixed-use projects – the Pearl Midtown and Buffalo Heights – broke ground in Houston’s inner Loop. Houston-based The Morgan Group is developing a 260-unit Class A multifamily development in Midtown that’ll be anchored by a 40,000-square-foot Whole Foods Market grocery store. Houston-based Midway Cos. is developing Buffalo Heights, a 230-unit upscale multifamily project that’ll be anchored by a 96,000-square-foot H-E-B store.
Cost: Phase I of Buffalo Heights secured a $66 million construction loan.
Broke ground: The Morgan Ground broke ground in February; Midway broke ground in May
Dealmakers: The Morgan Group will develop the Pearl Midtown. Ziegler Cooper designed the project’s exteriors and Carnegis Group was the project’s interior designer. Midway is developing Buffalo Heights alongside the Gordy family. HFF secured financing for Buffalo Heights from U.S. Trust, Bank of America Private Wealth Management. Arch-Con Corp. is the general contractor for Buffalo Heights and Kudela & Weinheimer is the landscape architect, and Mayfield and Ragni Studio is the interior designer.
Why it matters: These grocery-anchored vertical mixed-use developments are a step in the right direction for Houston’s grocers, as local developers continue to figure how to adapt to the needs of urban Houstonians. The Buffalo Heights storefront will be the first of its kind for H-E-B, as it’ll offer multilevel parking and include a walk-up coffee and food concept that’ll serve dine-in and to-go service.