Energy Downturn Resilience Continues to Surprise Naysayers

The Sophie has achieved 50% in pre-sales.

HOUSTON—Less than six months after The Sophie at Bayou Bend unveiling, the seven-story mid-rise condo project on a nearly two-acre Memorial Drive site has achieved 50% in pre-sales. Taking into account permitting, construction is anticipated to begin in late spring 2017 on the inner loop lot, which is situated at the eastern gateway to Memorial Park and steps from Bayou Bend Collection and Gardens.

“Houston’s resilience in the energy downturn continues to surprise naysayers,” Jacob Sudhoff of Sudhoff Companies tells GlobeSt.com. “Not only was 2016 a record-setting year for home sales, but the start to 2017 is already outperforming that pace, proving the city to be stable and strong. In the upscale condo market, where we specialize, we’re still seeing higher demand than supply. In addition to The Sophie, we have several other projects, which have recently met or are nearing pre-sales minimums for construction starts and also have a number of exciting, new buildings on tap.”