Morton's Reserve

Total Development 162,000 SQ FT
Office / Commercial 28,000 SQ FT
Development Duration 15 Months
Development Costs $21-$26 Million
Multifamily 96 Apartments
Historic Renovation 13,000 SQ FT
Retail 21,000 SQ FT

 

The proposed Morton’s Reserve is an approximately 162,000 sq. ft. mixed-use development consisting of 28,000 sq. ft. of office / commercial and 21,000 sq. ft. of retail in a three (3) story configuration, along with a 96 market-rate apartments. 

The site plan and renderings reflect an approximately 200,000 sq. ft. (gross) multi-level development on the 162,000 sq. ft. tract; the conceptual design retail/commercial fronting Pine Street bisected by a walkable plaza and surface parking to the north, 96 apartment units in a 4-5 level structure (with one level ofunderground parking) that would be built just north of the surfaceparking. 

Option 1 includes 12,000 sq. ft. - 15,000 sq. ft. of historic renovation for the Old Morton Healthcare Facility. This space would be available for office / commercial use, and, for example, could potentially include both government offices and museum space.

The building design elements of the retail/commercial portion of the Project reflect the original Morton Healthcare Facility (windows, brick, arches, etc.). A 30 ft. clock tower and a water feature (reflecting pool, pop-jet sprinkler, etc.) will be placed at the plaza entrance.

The Pine Place Development Team (Team PPD) estimates development of Morton’s Reserve, post-approval, would be approximately fifteen (15) months; Phase I would consist of retail/commercial development, inclusive of open spaces, landscaping, walkways and roads. Townhomes would be developed in Phase II (driven by market conditions).

Total development costs are approximate at this point, pending negotiations and final approved design, but Team PPD estimates total project cost at $21 Million.

Currently, 57% of Team PPD is comprised of small, woman or minority owned and historically underutilized / disadvantaged businesses. Team PPD eagerly anticipates including additional local Tulsa small businesses for various roles and responsibilities upon project award. At this point Team PPD cannot provide a true estimate of the number of temporary and/or permanent job opportunities the Project would generate, but Team PPD is committed to using local content and meeting or exceeding all targets for minority and women-owned business enterprise (MWBE) participation as deemed by The City of Tulsa.

Kim Hung Market

Kim Hung Market

Hotel 150 Rooms
Condos 180 Units
Retail 40,000 SQ FT
Grocery 25,000 - 30,000 SQ FT

 

Hotel
Red Lion Hotels will build its first Houston location, the upscale boutique hotel concept, “Hotel RL” .”Houston is the most diverse city in Texas, thus an ideal setting for the Hotel RL brand,” said Brian Quinn, RLHC Senior Vice President and Chief Franchise Officer.

Set to open in the second half of 2018, the future Hotel RL will have 150 guest rooms, retail space, restaurant and bar, meeting areas, business center and fitness center. The property will be located at 1005 St. Emanuel Street, in the up and coming EaDo District, ten miles from Houston Hobby Airport and within walking distance to BBVA Compass Stadium, Toyota Center, Minute Maid Park and the George R. Brown Convention Center. It will be Red Lion’s third Texas hotel and 125th nationwide.

Multi-Family
The Kim Hung project includes 180 high-end condominium units ranging from 650 SF to 1,150SF. Studio, 1 BR and 2 BR units, with multiple floorplans available. 24/7 concierge and security. Stunning views of the downtown skyline, Houston Medical Center, and the Houston Ship Channel.

Retail
Over 40,000 SF of retail space, including 25,000 SF - 30,000 SF allotted for a full-service grocery.

Imperial Market

Total Development 775,000 SQ FT
Office / Commercial 86,400 SQ FT
Retail 269,600 SQ FT
Conference/Meeting 10,000 SQ FT
Hotel 120 Rooms

 

The historic structures of the former Imperial Sugar refinery will soon be restored to become the Imperial Market. An upscale shopping, dinning, entertainment and cultural destination. Including a high-end boutique hotel, Class A office Space, the Fort Bend Children’s Discovery Center and Sugar Land Heritage Foundation Museum, along with luxury/multi-family housing.

The project is approximately 777,500 sq. ft. and the project is due for completion Spring 2017. The project will be approximately 269,600 sq. ft. of upscale retail space and restaurants. The eight-story Char house, will be transformed into a luxury, 120-room Aloft Hotel. An adjacent 10,000 sq. ft. building will house conference/meeting space with a fitness center. Imperial Market will also include 86,400 sq. ft. of Class A office space over the first-floor retail and 27 luxury-style, multifamily residences. In addition, the site will feature the new home of the Fort Bend Children’s Discovery Center and the Sugar Land Heritage Society Museum. 

Imperial Market development is in close proximity to Constellation Field, home of the Sugar Land Skeeters baseball club, which draws in excess of 500,000 fans per year.

Imperial Market will have multiple points of entry that connect

to the major Highway 90, and South Texas 6. Once inside the development visitors will experience a family friendly environment with the finest shopping and dining along with cultural opportunities.

IHG Candlewood Suites Hotel

Total Development 4 Acres
On-Site Business Center 1,200 SQ FT
Suites 4 Suites
Fitness Facility 800 SQ FT
Hotel 126 Rooms
Development Duration 20 Months
Development Costs 6.2 Million

 

In 2006, Pine Place Development, LLC partnered with one of our current teammates, Mills-Holly Enterprises, to develop the IHG Candlewood Suites Hotel in the Katy/Houston metropolitan area.

The Candlewood Suites Hotel is a 126 room property on a four acre tract, affording future development opportunity. It caters to extended stay guests as well as transient guests. The hotel has accommodations for 24-hour free laundry facilities for all guests along with a 24 hour gym. The hotel also has a business center and an onsite meeting room. The hotel location allows guests to take a trip to Houston or enjoy any of the various area attractions, which include:

  • Herman Park
  • George Bush Park
  • Top Golf
  • Katy Mills Mall
  • The Equestrian Center
  • The Merrell Center

All which bring economic opportunity to the City of Houston/Katy and surrounding areas.

This $6.2 million, 100% minority-owned development was partially funded with $2.0 million of private equity.