August 6, 2020
Skanska has acquired a 2.86-acre site in Houston’s growing Montrose neighborhood. The nearly 124,000-square-foot deal closed on August 4 for $27 million.
Plans call for a mix of multifamily and retail space on the parcel, which is located between Houston’s Midtown and River Oaks neighborhoods. The project is targeting LEED Platinum certification.
The site, at the Southwest corner of Westheimer Road and Montrose Boulevard, is surrounded by vibrant nightlife, eclectic restaurants, and an established art scene, says Skanska.
“Skanska is continuously looking for opportunities to diversify our Houston offerings while developing projects that reflect the strong culture and sense of community in this city,” said Matt Dambrosky, EVP at Skanska USA Commercial Development in Houston.
The Montrose announcement comes on the heels of the recent acquisition of Discovery Green, a 3.5-acre area purchased in late 2019 that is intended to be Skanska’s first mixed-use, multifamily offering in Houston.
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