The $116 million, 20-floor, 337,000-square-foot, mixed-use hotel and for-sale apartment development is along the River Walk at the corner of St. Mary'' s Street and Lexington Avenue, throughout from El Tropicano Riverwalk Hotel. Established by Houston-based DC Partners, which has done numerous imposing condominium jobs around Houston, The Arts Residences is the very first mixed-use advancement for the business, in addition to its first outside of Houston.
Strategies call for the high-rise tower to include 162 hotel spaces, 58 apartments and five penthouse suites, although DC Partners President and CEO Roberto Contreras said in January that the number of penthouses might change based upon market need.
Contreras and others on the advancement group said the task was dangerous when initially conceived, things seem to be working out. The sales group-- led by Karla Dupre, sales director for Kuper Sotheby'' s International Realty-- said the condominiums are 65 percent presold and that the job hasn'' t reached the 6th floor. The trip on Friday was led by the task'' s general specialist Jordan Foster Construction, which stated the development is on pace to peak by spring 2019. After peak, the job must be open to the public by early 2020.