(Read more on the multifamilymarket.)
HOUSTON-The last phase of the $211-million, 792-unit Mosaic onHermann Park has begun. The 30-story, 396-unit project is a twin tothe first tower, which is 70% sold out.
“We were waiting for the sales on the first phase before lenderswould give approval to put up the second tower,” says Jackson King,vice president of operations for Phillips Development & RealtyLLC. King says the first phase of the project at 5925 Almeda Rd. isscheduled for completion later this month, with move-ins to takeplace in November. The second phase is penciled for a late 2008completion.
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