News Article | 11/9/2006

House high-rise is on its way up

Developers of Dallas’ Victory complex have started work on their next tower.

The 28-story House condominium high-rise is being constructed at Houston and Lamar streets by Hillwood and London-based Yoo Ltd.

Units in the House condo tower range from 1,000 to 8,700 square feet and have an average price of more than $500,000.

The 150-unit building was planned by famed French designer Philippe Starck and Elkus Manfredi Architects of Boston.

“It will open at the very end of 2008,” Hillwood Capital president Jonas Woods said Wednesday. “We are about half sold.

“Things took a little longer than I hoped, but we ultimately got there,” he said.

The building was announced with great fanfare in mid-2005. Interest in the $80 million project was high because of Mr. Starck’s involvement. Buyers in the building will be able to choose from interiors by the award-winning designer.

Site work is already under way on the building, which will include retail on the ground floor. Formal groundbreaking ceremonies will be next week.

Units in the building range from 1,000 to 8,700 square feet and have an average price of more than $500,000.

The House high-rise is one of two construction projects starting at Victory before the end of 2006.

Across the street, developer Hillwood and Houston-based builder Hines plan to start construction soon on the first of two office towers.

“It won’t be long at all,” Mr. Woods said.

Construction is already under way on the 43-story Victory Tower, which contains the Mandarin Oriental Hotel, 90 condominiums, and office and retail space.

A study recently commissioned by Victory developers Ross Perot Jr. and Tom Hicks estimates that the project has had a $2.6 billion economic impact on the city since 2002. About $750 million of the contribution to the economy has come this year, according to the study by Conventions, Sports & Leisure International.