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Tarragon JV Breaks Ground on $425M Residential Towers

HOUSTON-The 37-story Orion Towers project gets under way, with the first delivery planned for spring 2007. To date, 106 of the 180 residences in the first phase have been sold for a combined $100 million. A second tower breaks ground in winter 2005.

By Jennifer D. Duell | Updated on December 09, 2004

HOUSTON-New York City-based Orion Towers Tarragon LLC, a partnership between Asbury Place Development and Tarragon Corp., has broken ground on Orion, a $425-million residential project in the River Oaks neighborhood.

Situated on 10 acres along the Buffalo Bayou at Asbury Place, Orion will consist of two 37-story towers. The first tower will have 180 residences while the second one will be designed with 150 to 180 condos, says Robert Day, co-owner of Asbury Place.

Day tells GlobeSt.com that 106 units already have been pre-sold for a total of $100 million, including the $5.3-million penthouse. The first tower is slated for completion in the late spring 2007. The second tower will break ground in winter 2005.

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