Apartment projects on former Chelsea Market site, near Memorial Park, to start construction later this year, filings show
State filings show Phoenix-based Alliance Residential plans to start construction on two more in-town apartment projects later this year.
Broadstone Memorial Park at 7721 Washington Ave. will be across Interstate 10 from Memorial Park and Broadstone Museum District at 4617 Montrose will rise on the site of the former Chelsea Market development vacated by tenants late last year.
Requests for comment from Alliance weren’t immediately returned.
Both filings on the state’s licensing and regulation department website list Aug. 1 as a start date and attribute Houston-based EDI International as the design firm for each project. Contractor information wasn’t listed.
EDI International’s website describes Broadstone Museum District as a 16-story high-rise with four floors of parking beneath and 357 units. Until now, Alliance hasn’t built a high-rise project in Houston, said Bruce McClenny, president of ApartmentData.com. He defines high-rises as at least nine stories tall. Houston-based Dosch Marshall Real Estate, a land brokerage firm, represented Alliance Residential in the deal.
County appraisal records show Alliance doesn’t yet own the tract of land appraised at $8.9 million in 2018.
County records show the land slated for Alliance’s Broadstone Memorial Park at 7721 Washington Ave. belongs to an entity Silver Eagle LP and was appraised at $11.09 million in 2018. That entity is tied to the same mailing address as the headquarters for Silver Eagle Distributors. The Houston-based distributor of Anheuser-Busch products has its headquarters at 7777 Washington. Requests for comment from Silver Eagle weren’t immediately returned.
Last month the Houston Business Journal reported Alliance filed building permits with the city of Houston for $28.8 million for a project named Broadstone Minimax at 2717 Minimax, north of Memorial Park.
Alliance also has several projects under construction around Houston, including a couple in the Heights-Washington Ave. submarket. It recently filed permits for $35.2 million for its eight-story Broadstone Tortilla Factory project in the Heights, off 15th Street and North Shepherd.
February 21, 2019
Houston Business Journal