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HOUSTON-Construction won’t start until spring for the 250,000-sf, 64-unit Colonnade at Memorial condominium tower at 314 N. Post Oak Lane near Memorial, but pre-construction sales have exceeded projections and made co-developer Oscar Coscio very happy.

Unit sales are well into double digits, according to Coscio, who is developing the condo in partnership with Jack Lee of the Oakmont Group, investor Ronald Murphy and John Rippel, who had headed Atlanta-based Gables Residential Trust. Lee has been a party to the development of the St. James condo project.

Colonnade units are priced from $300,000 to more than $1 million, Coscio tells GlobeSt.com. Many of the pre-construction buyers are sophisticated current high-rise residents. It’s good they have a place to stay, because his project won’t be ready for occupancy until the summer of 2002.

The location of the new tower is a major selling point. It is adjacent to the entrance to the Houstonian and readily accessible to the West Loop of Interstate 10. Rey de la Reza Architects is the designer in collaboration with architect Lucho Gonzales.

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