New images have been released related to a major development Houston-based Hines and locally-based Core Development are planning for Wedgewood-Houston.
The images involve a mixed-use building tentatively called The Residences at The Finery and an office building called T3 Wedgewood-Houston.
The six-story The Residences at The Finery (pictured) will include 383 apartment units, about 45,000 square feet of ground-level office and retail space, a rooftop swimming pool and a structured parking garage with 640 spaces.
The Residences at The Finery will offer an address of 622 Merritt Ave. The office building will sit at 1234 Martin Ave. across the street from Diskin Cider. Nashville-based Hastings Architecture Associates is designing the buildings.
Hines, officials for which could not be reached for comment, has backing from Chicago-based real estate investors Cresset and Diversified Real Estate Capital. Core and Hines originally envisioned the overall development also to potentially include a boutique hotel and concert spaces.
With the Wedgewood-Houston property located in a federally designated Opportunity Zone, the development team will be eligible for tax breaks.
"Finery" is a moniker that the Mark Deutschmann-founded Core uses for projects located near the site. Hines uses "T3" (timber, talent and technology) for wood-built projects.
The permit application process is underway and, as the Post previously reported, the project could see a groundbreaking this year, according to a source who asked to go unnamed.
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. It is also looking to buy the Reed family site in Midtown (read here) and home to Nashville Subaru.