Unit sales are well into double digits, according to Coscio, whois developing the condo in partnership with Jack Lee of the OakmontGroup, investor Ronald Murphy and John Rippel, who had headedAtlanta-based Gables Residential Trust. Lee has been a party to thedevelopment of the St. James condo project.
Colonnade units are priced from $300,000 to more than $1million, Coscio tells GlobeSt.com. Many of the pre-constructionbuyers are sophisticated current high-rise residents. It's goodthey have a place to stay, because his project won't be ready foroccupancy until the summer of 2002.
The location of the new tower is a major selling point. It isadjacent to the entrance to the Houstonian and readily accessibleto the West Loop of Interstate 10. Rey de la Reza Architects is thedesigner in collaboration with architect Lucho Gonzales.
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