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HOUSTON-Local developer Redstone Cos. will break ground by year’s end on a 65-unit high-rise condo project, the latest addition to its 25-acre Houstonian campus in the Galleria submarket.

With a late 2006 delivery planned, the 29-story Redstone at 111 N. Post Oak Lane is only the second residential construction in the campus’ 25-year history. Its neighbors will be the Houstonian Hotel, Club & Spa, a 150,000-sf, class A office building and Houstonian Estates.

“We challenged the architects to design a unique building,” Steve Lerner, Redstone’s executive vice president, says in a press release. “The Redstone will stand apart from everything else in Houston.”

Redstone’s developer couldn’t be reached by publication time for comment on the project. But, the Galleria location alone means its cost is sure to exceed $180 per sf based on relatively new projects in the submarket. The 1200 Post Oak’s 356 apartments in a 33-story design exceeded $180 per sf while its neighbor, a 21-story, 300-unit project by Hanover Co. has been tagged at $185 per sf to $195 per sf.

The Redstone, designed by Ziegler Cooper Architects of Houston, features units from 2,700 sf to a multi-level, 12,000-sf penthouse. The starting price tag is just under $1 million. The locally based Oakmont Group Inc. is the project manager. Pepper-Lawson Construction of Houston is the general contractor.

The campus’ other residential property, the Houstonian Estates, “was one of the few real success stories among high-rises built in the 1980s,” Edith Personette, president of the Houston-based condo marketing firm, Personette & Associates, says in the release. “It proved that the attraction of the hotel, fitness center and spa would be an irresistible selling point.”

Redstone started work on the upscale campus in 1979 with the 280-room hotel and 125,000-sf spa, giving it three years to build momentum before bringing out Houstonian Estates. The last construction was four years ago when the office building went up.

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