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Land Resources / News / Texas
High end plans slip away as land is sold
Source: Houston Chronicle, by NANCY SARNOFF
Five years after pulling the plug on a $425 million condo tower planned for a site along Buffalo Bayou, the owner has sold the property. September 04, 2010 The 9.25-acre tract sits just south of Memorial Drive between Westcott and South Shepherd on Asbury Place. New York-based Tarragon Corp. along with a Florida development partner were once planning a luxury high-rise called Orion on the site. It was designed as two 37-story towers with 360 units averaging 3,600 square feet and priced at more than $1 million apiece. In 2005, however, Tarragon said there wasn't enough demand for the large units, so the project would be redesigned with smaller ones.
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