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July 27, 2016 Comments Off on New Concept for Houston’s Micro Units Views: 343 Houston-Galveston, National News, Southwest, Texas, Texas News

New Concept for Houston’s Micro Units

Ivy Lofts at 204 Leeland Ave. in East Downtown Houston was initially envisioned as the first major micro-unit condominium development in the metro. Developer Novel Creative Development LLC anticipated that all 550 units would sell before a June 2016 groundbreaking.

But, lackluster sales led New York City-based Novel Creative Development to redesign the project into a condo hotel. A condo hotel, or condotel, is a condo building operated as a hotel.

When the buyers aren’t occupying their units, they are rented out to visitors. The idea is still in the conceptual phases, but Novel Creative plans to relaunch the redesigned project after Labor Day.

Join multifamily experts on September 15 at Connect Apartments to learn the latest industry news and trends!

 

Read More at Houston Business Journal

Connect with Novel Creative Development

 

For comments, questions or concerns, please contact Amy Sorter

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