Trademark Property Co. has locked in financing for High Street, the $105 million real estate development designed to include apartments, shops and offices in an urban, walkable setting east of the Galleria.
Investment management firm Coventry Real Estate Advisors of New York has joined the deal as an equity partner, and Kosene & Kosene Residential of Indianapolis is partnering as the residential developer.
"We're financed. We're under construction. It's real," said Terry Montesi, founding partner of Trademark Property, a Fort Worth-based developer.
This is the second high-density, mixed-use project to start construction in recent months.
Work has begun on Ed Wulfe's BLVD Place on Post Oak Boulevard and San Felipe, and the first phase is expected to open by the end of the year.
Other than Whole Foods Market and some existing retailers in the properties being demolished for the project, Wulfe hasn't announced any other tenants.
But he's betting that some luxury stores in the Galleria mall will consider a street-level location, as well — even if it's just down the street.
