July 1, 2013
River Oaks District Breaks Ground Today!
We know you've been tracking the River Oaks District, and today (after years of planning) it's in the dirt. The massive mixed-use project locked in construction financing and that's all she wrote.
Above, a scale model of the luxury project developed by OliverMcMillan. CEO Dene Oliver reminds us that the firm's been planning this since '06. It sits at the corner of 610 and Westheimer and will have 252k SF of retail, 92k SF of office, and 279 residential units. If you're hoping for the standard shovel shot today, we hate to disappoint... but today is the actual start of construction, not the ceremonial groundbreaking.
Oliver McMillian managing director Greg Wattson is spearheading the project. The $150M in construction financing was provided by a syndication of banks led by Bank of America Merrill Lynch and including BBVA Compass, Cadence Bank, and First Bank of Hawaii. HFF's Trey Morsbach and Cameron Cureton secured financing on the borrower's behalf.