Houston Chronicle | December 11, 2018
By Katherine Feser

Residential developer Stolz Partners has been busy putting up trees that would look right at home in a decked-out holiday living room. Instead, the trees now decorate the tops of two separate condo projects that reached their final construction heights in December.

Stolz Partners on Monday hoisted a 10-foot pine tree to the roof of The Sophie at Bayou Bend, a seven-story development that will bring 39 condo units to 6017 Memorial Drive next year. The project, a few blocks east of Memorial Park overlooking Bayou Bend Collection and Gardens, is 60 percent presold.

Earlier this month in the Upper Kirby District, the developer celebrated the topping out of Giorgetti Houston near Kirby and Alabama. Both of the projects are set to open in winter 2019.

Designed by Mirador Group and marketed by Sudhoff Cos., both midrises will offer private loggias with outdoor kitchens, an optional outdoor porch potty for pets, and private garages. Private terraces average more than 400 square-feet.

Condos in The Sophie range from 2,800 to 5,200 square feet and will have 10-foot ceilings. Prices start at $1.6 million.

"The design inspiration for the project began by looking at art, architecture and fashion icons throughout history that have come to represent a 'classic contemporary' style that is timeless," Mirador Group principal Jerry Hooker said in an announcement. "Icons like the Chanel little black dress and classic New York apartment houses of Rosario Candela and Robert Stern gave way to the inspiration behind the architecture, interiors and landscape architecture. Even the name 'The Sophie' stems from the word 'sophistication.' "

Amenities will include a resistance pool; a fitness center with virtual yoga studio; a private lounge with a coffee bar; private garages; a dog park; and 24/7 concierge and porter services.

"The Sophie's presale success speaks to market preferences," Sudhoff Cos. CEO Jacob Sudhoff said. "Graciously sized residences with expansive outdoor terraces, pet-friendly amenities, private garages within the garage, bring a whole new meaning for opting for a home in the sky."

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Houston Chronicle | May 27, 2018
By Valerie Sweeten, Condo Life Correspondent

The Upper Kirby area is soon to be home to Giorgetti Houston, the first totally branded real estate project for Giorgetti, the 120-year-old Italian furniture maker.

With construction officially under way after the groundbreaking ceremony on May 15, this boutique midrise will be located at 2701 Steel St. amongst mature oak trees.

This new real estate project is a collaboration between the Mirador Group, Sudhoff Companies and Georgia-based Stolz Partners.

The seven-story boutique midrise will feature 32 flats ranging from 2,700 to 6,800 square feet, with four penthouse options. Ceilings will range from 10 to 12 feet, with balconies offering from 500 to 2,000 square feet. Giorgetti will create a complete residential environment from the kitchen and outdoor cabinetry to paneling, lighting, carpets, closets, woodwork and furnishings.

The boutique condominium will feature outdoor kitchens, al fresco dining, pet-living amenities, a gym and concierge service.

“The building will be representative of the Giorgetti Italian lifestyle, a harmonious fusion of innovative design, architecture, form and function that truly distinguishes the pioneering brand. Each of the flats will be timeless works of art,” Sudhoff said.

The appeal lies in the Giorgetti brand and what it stands for, Sudhoff said.

“Last summer, we hosted a group in Meda, Italy, to tour the factory while experiencing the highest artisanship and woodworking tradition firsthand,” Sudhoff said. “It was an incredibly immersive experience. I know future residents are eager to replicate that immersion in Houston.”

It was Giorgetti’s unusual furniture shapes that served as a design impetus for the project, especially their Origami cabinet, which spurred the vision of the external facade of the building.

Giovanni del Vecchio, managing director of Giorgetti, said beauty is the first source of inspiration for the contribution it makes to improving the quality of life where you live.

“With our partners, we share the same passion, vision, and love for the brand and lifestyle. The result is very special,” said del Vecchio.

Giorgetti Houston is already 50 percent sold, with occupancy slated for winter 2019. Prices begin at $1.4 million.

Jerry Hooker, principal of Mirador Group who is leading the design and planning of the building, said everything from the building’s location to its fixtures and finishes create a unique, refined setting. Between the history, craftsmanship and art, the expected result is a sophisticated environment and classic building for generations to come, Hooker said.

The Giorgetti Houston Sales Center is at 2992 Kirby Drive. For more information, visit Giorgettihouston.com or call 713-600-5062.

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Bisnow Houston | Kyle Hagerty

Thanks to Hurricane Harvey, Houston's multifamily market avoided much of the pain from years of overbuilding during an oil downturn. With the positive effects fading, adding new supply is still hard to rationalize. But new condos? That is another story.

This year, Houston's multifamily sector will add roughly 7,000 units, compared to 21,191 in 2016 and 13,719 in 2017. The slowdown is a welcome change of pace.

"My hope is we that we don't have the level of units being developed in the past," Alliance Residential Managing Director Cyrus Bahrami said. "I think investors learned during the last few years. We don't need 50,000 units over a four-year period."

Despite the high levels of supply, Bahrami is still betting on Houston. With several projects in the works and others still leasing up, the summer months, when apartment leasing is at its peak, will be yet another shot in the arm for Houston's multifamily sector.

Bahrami spoke at Bisnow's Multifamily Revival event Thursday morning at The Westin Galleria, where over 300 multifamily sector professionals gathered to hear the latest developments in the Houston market.

Houston's condo sales also jumped after Hurricane Harvey as Houstonians looked for alternative housing. Between projects like Arabella and Astoria, high-profile condo developments are all over Houston and more are on the way.

"You see the amount of condo inventory compared to other major metros, it's a shame we don't have as many as other major cities," DC Partners Chief Operating Officer Acho Azuike said. "In a city our size there can be a lot more."

Stolz Partners, behind Giorgetti Houston and The Sophie, looks for signs of a vibrant urban core, which is exactly what Houston has been developing recently, according to Stolz Partners founder Will Stolz.

"The other piece we have to have is a buyer that can afford the product, it has to be an area of affluence. The list of cities you can build in gets much shorter when you look at it that way," Stolz said. "For all its ups and downs, Houston is a very affluent city."

Houston's condos are selling in the $600 to $900/SF range, Stolz said. While that is a lot locally, compared to other major metros with robust condo markets, it is relatively low.

Houston's biggest problems are land and construction prices. Houston's land prices have not gone down and construction prices have risen in the wake of Hurricane Harvey as construction workers and subcontractors work to complete residential projects. The result is construction costs on par with other major metros, but lower sale prices.

"Harvey's effect on the construction industry has lingered, but I think we're getting past that now,"Arch-Con Corp. Senior Vice President Michael Vaughn said. "Only about 15-20% of damaged homes still need work."

Bahrami said investors are beginning to lower their expectations on returns in Houston. When combined with the increasing push to go vertical, deals are still able to be penciled out in the right areas.

"There's a growing belief from investors that Houston has great downside protection. If you buy it right, develop it right, it's a good investment opportunity."

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www.bizjournals.com  |  Douglas Sams



Homebuilder D.R. Horton is starting one of Atlanta's largest master-planned communities in more than a decade, with 760 residential lots.

Homebuilder D.R. Horton Inc. is starting one of metro Atlanta’s largest master planned residential projects in more than a decade.

An affiliate of Forestar Group, which was officially acquired by D.R. Horton (NYSE: DHI) earlier this month, bought 335 acres for the massive development near Highway 20 and Ozora Road in the Grayson area.

The transaction closed Oct. 17 for $15.3 million. Stolz Partners was the seller.

D.R. Horton will develop 760 residential lots, with two miles of walking trails connecting to Bay Creek Park and Grayson High School.

Construction is already starting, said Brent Story, with Avalon Real Estate Partners, the real estate firm that brokered the land sale.

“I don’t know of any master-planned communities started in the Grayson area, or any part of metro Atlanta for that matter, that are this large since well before the Recession,” Story said. “I think it speaks to just how strong the market is for entry-level and move-up buyers in this area.”

The entire project, known as “Independence,” will exceed 400 acres, including land along Highway 20 for 450,000 square feet of stores, restaurants and some office space.

Rank	Company	Number of homes closed in 2016
1	D.R. Horton Inc.	3,070
2	Century Communities of Georgia	1,265
3	PulteGroup Inc.	758
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