June 28, 2013
River Oaks District receives financing and is ready to break ground
These are the latest renderings of River Oaks District, the 14-acre mixed-use project that is set to break ground Monday.
Developer OliverMcMillan said late Thursday it received $150 million in construction financing for the development, which will replace hundreds of now-vacant apartments at 4444 Westheimer, just inside the West Loop.
The financing came from Bank of America Merrill Lynch, leading a syndication of banks including BBVA Compass, Cadence Bank and First Bank of Hawaii. HFF?s Trey Morsbach and Cameron Cureton arranged the financing.
The project will have 252,000 square feet of shops, restaurants, cafes and a cinema, along with 92,000 square feet of office space and 279 residential units.
?We have been working on this project since 2006 and look forward to our early spring 2015 opening,? Dene Oliver, OliverMcMillan?s CEO said in a statement.
The project was designed by a team, including Gensler, Papageorge Haymes of Chicago and the landscape architecture firm of Hoerr Schaudt.