LUXURY HIGH-RISE APTS. COMING TO HOUSTON CBD

HOUSTON — Denver-based Simpson Housing Novare Group, Batson-Cook Development Co. and Houston-based developer Peter W. Dienna have closed on the land purchase and financing for SkyHouse Houston, a luxury high-rise apartment community. The 24-story, 336-unit community will take up an entire city block at 1625 Main St. in Houston's Central Business District. JPMorgan Chase Bank is providing construction financing, and Simpson Housing, NGI Investments and Batson-Cook are providing equity. Robert LaChappelle, Jonathan Rice and Paul Berry of CBRE arranged the financing. David Cook and Jeff Peden of Cushman & Wakefield brokered the land sale. The City of Houston awarded the project a $15,000-per-bed tax abatement. The construction of the high-rise will bring about 500 jobs to the area. The building is expected to be Energy Star-rated and will feature views, high-end finishes and a “SkyHouse” on the top floor, which will include a fitness center, pool, grilling area and clubroom. Smallwood, Reynolds, Stewart, Stewart will provide architectural services for the project.