River Oaks apartment tower underway after developer secures financing
The developer of a residential tower slated for the River Oaks area has received financing for the project, a 39-story building that will add hundreds of luxury apartments to the area.
Holliday Fenoglio Fowler said Thursday it had arranged equity and construction financing for Hanover River Oaks from institutional investors advised by J.P. Morgan Asset Management.
The new tower at 2930 Kirby Drive at Steel Street, the former site of the Kirby Court apartments, will include 370 residential units and 10,000-square feet of ground-floor retail space.
Units will average 1,172 square feet and amenities will include a rooftop pool with cabanas, outdoor grilling and dining stations, a pet-washing station and 24-hour concierge.
The first units are expected to be ready in early 2020.
The HFF team representing Hanover included managing director Cortney Cole, executive managing director Scott Galloway and director Dustin Selzer.