The Montebello will be situated along Uptown Park Boulevard in the Uptown/Galleria submarket. The project will break ground in the fourth quarter, with completion slated for late 2003.
Interfin president and developer, Giorgio Borlenghi has been active in the Uptown area for about 20 years and also is the driving force behind Uptown Park, a European-style shopping center on the corner of Post Oak Boulevard and Loop 610. Montebello's three-acre site is one of three remaining undeveloped Interfin properties along Uptown Boulevard. Borlenghi tells GlobeSt.com the development site is part of an original 74 acres that he bought in 1993 from the Resolution Trust Corp.
The Uptown area is Borlenghi's location of choice for investment and working. It not only is international in composition, but also contains all components inherent to city lifestyles--offices, hotels, entertainment and shopping. In his opinion, no other section of the city, including the Downtown, can match these amenities.
Borlenghi admits his condominium tower is particularly appealing to the "textbook scenario empty-nesters," but he says the purchasing demographic for his properties has expanded to include some very successful young professionals and families. "In the '80s, we were pioneering this concept when the single-family home was the only thing in Houston." Now, the baby boomers have come of age, creating a large empty-nester market for developers, like Borlenghi, to tap.
Units will range from 2,170 sf for one bedroom, 2,890 sf for two bedrooms and 3,580 sf for three bedrooms. There are also four 5,000-sf, two-story penthouses available at the top of the building. Selling at pre-construction prices of $500,000 to $1.8 million, Montebello will offer granite kitchen countertops, wood floors, marble bathrooms, large living areas and foremost, a view.
Scott Ziegler of Houston-based Ziegler Cooper Architects says the building carries "a sleek, self-assured architectural expression commanding spectacular views of the Galleria and Downtown skylines." The project team includes Pepper-Lawson as general contractor; CBM Engineering, structural engineers; CHPA Consulting Engineers, mechanical engineers; and Turner, Collie & Braden, civil engineers.
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