This has been a long time coming.
More than five years after announcing plans for the 24-acre Regent Square project off Allen Parkway, GID Development Group has begun construction on the first building, a 21-story apartment tower called The Sovereign.
GID said it remains committed to Regent Square, which is to go up in multiple phases on land abutting Allen Parkway near Dunlavy and Dallas, on the site of the old Allen House Apartments. The development could take 10 years to complete.
Plans include about 400,000 square feet of retail, restaurant and entertainment space; more than 1,500 residential units; and 250,000 square feet of office space in what the developer refers to as an “urban district” where residents can walk to everything. The walkable nature of the project extends beyond its borders, [GID President James] Linsley said, with a pedestrian trail around Buffalo Bayou and high-end shops and a new Whole Foods a short distance away.
Additional construction could begin in about a year as the company is “moments away” from signing up a major retail tenant, Linsley said.
We heard about movement on this front in May. Like many other projects, it was the collapse of the economy that brought it to a halt. I’m glad to see it finally get going, that’s far too valuable a property to sit vacant like that. Prime Property has more.