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Southern Land Co. secures $165.9M construction loan for Upper Kirby project
The 38-story Lily River Oaks complex is planned to deliver 331 apartments, plus a separate 10-story office tower with about 107,000 square feet.
Southern Land Co. has secured $165.9 million in financing for a mixed-use development in Houston’s Upper Kirby area, according to ConnectCRE.
Bank OZK issued the construction loan to support the 2811 Kirby project, which broke ground in April.
The development is planned on a 2-acre site at 2811 Kirby Drive and totals 953,000 square feet, with two towers, one for offices and one for apartments, and about 15,000 square feet of ground-level restaurant space.
The residential component is described as a 38-story Lily River Oaks luxury multifamily building with 331 apartments, including 18 penthouses, while the separate 10-story commercial tower would provide approximately 107,000 square feet of Class AA office space; Stream Realty Partners is leading leasing for the office component.