West Ave Secures Retail Anchor, Signaling Project's Progress from Vision to Reality
Houston, TX (Vocus) January 25, 2010 -- Good things come to those who wait. This is particularly true in the case of Houston’s most talked about new development West Ave, a joint venture between Gables Residential and Northwestern Mutual. Months of speculation has resulted in an impressive list of retailers and restaurants that will make the move to the intersection of two of Houston’s most celebrated streets at Westheimer and Kirby. With confirmed leases from several of the city’s most sought after names in fashion, food and entertainment, these offerings are poised to ignite excitement about the project and reinforce the desire of its partners to maintain their vision of a truly best of class environment.
After nearly three decades in its current location, Tootsies will be stepping into a 34,000-square-foot, ground floor trophy space bordered by Kirby and Westheimer. Internationally acclaimed architecture firm Gensler, will serve as the architect of record for the store, which is slated to begin construction in the summer of 2010.
Tootsies will join a number of other premium offerings making their debuts at West Ave including Zaika, a contemporary urban café from renowned Houston restaurateur Anita Jaisinghani (Indika), serving high-quality Indian-inspired cuisine; Cru, an award-winning wine bar and cafe; Eddie V’s, a nationally acclaimed, Austin-born seafood, steak, and live music concept; Rome, a resort-style day spa and salon conceived by Las Vegas-based spa operators Resources & Development; and a new concept by Ad West, an upscale restaurant and lounge from brothers Jeff and Darren Van Delden, known for creating, designing and operating sought-after destinations in Houston, Austin and San Antonio such as The Drake and Red Door.
“Since inception, our goal has been to secure best-in-class regional retailers and create a unique living, dining and shopping experience at West Ave. Tootsies is entirely consistent with this goal and we are thrilled to have them take a prominent position in the project,” said David Fitch, President and CEO of Gables Residential. “West Ave has an incomparable location in the most high profile neighborhood in Houston, a carefully selected retail mix and luxurious residential living, all operating within a progressive, high density urban setting. We are pleased with the level of retail interest and activity and look forward to more announcements soon.”
Designed by Looney Ricks Kiss, West Ave fuses classic Art Deco styling and southern Mediterranean accents evocative of some of the most significant early commercial buildings and residences in the adjacent River Oaks area. The seven-story façade of brick, stucco and cast stone incorporates two floors and 190,000 square feet (50+ storefronts) of premium retail on the first two levels and 389 luxury apartments ranging in price from $1,400 to more than $3,000 per month on floors three through seven. Approximately 40% of the retail space and 70% of the residential component is currently leased. Residential Move-ins began in February 2009, and the first retail openings will take place in May 2010.
West Ave is the center of Houston‘s vibrant urban environment and serves as the gateway to both River Oaks and the Upper Kirby District, which recently unveiled a completely revamped streetscape. Upper Kirby’s multi-million dollar investment has improved access to the area and fosters a pedestrian-friendly environment with expansive sidewalks, numerous crossing points, enhanced lighting and extensive landscaping. It has become a perfect location for West Ave, which offers the spirit and convenience of a neighborhood center, while maintaining the energy of a downtown.
For more information regarding retail leasing, please contact 713.595.9500 or residential availability, please contact 713.524.5700.
About Gables
Gables Residential (www.gables.com) is a privately held REIT owned by a fund managed by a joint venture between ING Clarion and Lehman Brothers. With a mission of Taking Care of the Way People Live, Gables Residential has received national recognition for excellence in the management, development, acquisition and construction of luxury multi-family communities in high job growth markets. Gables Residential owns, develops and manages multi-family communities and mixed-use developments in Atlanta, Austin, Dallas, Houston, South Florida, Southern California, and metropolitan Washington, D.C. Additionally, it has third-party management operations in the Chicago, New York, Phoenix, Central and North Florida, and Washington State markets. Gables Residential enjoys a healthy portfolio with approximately 38,000 apartment homes under management, including a corporate-owned portfolio of 64 communities comprising more than 15,000 apartment homes. An additional 7 communities are under construction/lease-up, comprising approximately 1,900 apartment homes. Gables also has the ability to develop another 4,000 apartment homes through its shadow pipeline of undeveloped land owned. For more information please visit www.gables.com.
Gables Urban is a division of Gables Residential which specializes in creating successful mixed-use destinations inspired by urban centers around the country. Each development is carefully crafted to fuel the symbiotic relationship between residents, retailers and the surrounding workforce. Focused on in-town developments, Gables Urban capabilities include development, marketing, retail leasing and property management.
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