New images have been released related to a mixed-use development Houston-based Hines and locally-based Core Development are planning for Wedgewood-Houston.
As Nashville Business Journal previously reported, Hines has backing from Chicago-based real estate investors Cresset and Diversified Real Estate Capital, with Core and the Texas development company seeking a project to be called T3 Finery and to include office, apartment, boutique hotel and concert spaces (read more here).
Hines and Core are targeting a roughly three-acre unimproved property, which sits next to Diskin Cider, at 622 Merritt Ave. for the development. Hines been active in the local market, having teamed with C.B. Ragland to develop the SoBro site home to mixed-use building 222 2nd.
With the Wedgewood-Houston property located in a federally designated Opportunity Zone, Cresset and Diversified will be eligible for tax breaks. According to marketing materials, Hines and Core are eyeing a development that would include the following: two office buildings with about 320,000 square feet of office space; 311 apartments in a seven-story building; 58,600 square feet of retail surrounding a “village green concept” as well as a boutique hotel with 125 rooms and a concert venue.
“Finery” is a moniker that the Mark Deutschmann-founded Core Development uses for projects located near the site slated for T3. Hines uses “T3” (timber, transit and technology) for wood-built projects, NBJ reports
The project could break ground this year, NBJ reports.
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