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Surge Homes has begun pre-sales in a new affordable condominium community in the Museum District.
The Houston developer plans to develop Museum BLVD, a six-story, 50-unit condominium project at 4819 Caroline St. The $11 million project is a 10-minute walk to Hermann Park and is near the Houston Metro’s Wheeler light rail station.
Museum BLVD will offer a range of condos, from micro-unit lofts spanning 420 square feet to one- and two-bedroom units spanning 1,099 square feet. There will also be a few penthouse units with large terraces and views of the Houston skyline.
The condo units feature contemporary European cabinets and high-end kitchen appliances. The units are priced from the $140,000s to the $340,000s, which is lower than the $745,000 median home value in the neighborhood, according to the Houston Association of Realtors.
Surge Homes had initially offered fewer, but more expensive — $367,000 to $480,000 — condo units at its Caroline Street site, but shifted its pricing model down after experiencing brisk sales at at Parc at Midtown, the developer’s most recent condo project in Midtown. Half of the 80-unit condo and townhome project sold out within three months, said Louis Conrad, co-owner of Surge Homes. Parc at Midtown, located at 2401 Crawford St., offers more affordable condo units ranging in price from $172,300 to $430,000
“Houston’s Inner Loop real estate market is clearly moving more and more towards affordable, worry-free new condos in sought-after areas offering walkability,” Ben Lemieux, co-owner of Surge Homes, said in a statement. “It is the hottest residential product in the city right now.”
Museum BLVD is Surge Homes’ third crowd-sourced residential project underway in Houston, and is scheduled to open in 2018. The developer is planning to construct 10 residential projects across Houston in the coming years.
