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Hardy Yards Springs Back to Life
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Houston (Harris Co.) – The first of what Houstonians expect will be many new developments in the Hardy Yards brownfield will get reviewed by the Planning Commission on Thursday.
Residences at Hardy Yards, a multi-family complex going into the northeast corner of the former Southern Pacific and Union Pacific railyard, is being considered for a variance request on a setback that would allow a 5-foot setback instead of 10 feet along a new extension Leona Street. The site being developed runs from the corner of Leona and Hardy streets back to a new extension of Chapman Street.
Vernon G. Henry & Associates Inc. will represent the developer, Zieben Group.
Bidding for a general contractor is expected to begin in May, according to Zieban Group.
The architectural design will include rail-themed features in homage to the site’s prior use. These include an iconic 100-foot clock tower with changing lights and a bell.
Construction is anticipated to begin the spring of 2016 and take 36 months to complete.
According to Planning Department staff, the project is adhering to the design guidelines adopted by master developer Cypress Real Estate Advisors for the entire 45-acre site. These goals include a transit-oriented, pedestrian friendly development. It will include a new street grid, sidewalks, ample lighting and streetscape amenities.
Here is a link to an overview of the entire master plan.
“Paving plans include two 12-foot moving lanes in the middle (of Leona), flanked by 8-foot parking lanes on each side. There will be 15 feet from the face of the curb tothe property line,” according to the staff report. There will be 15 feet from the face of the curb to the property line. Close to the curb will be a 9-foot tree planting and amenity area, then a 6-foot sidewalk adjacent to the property line.”
Last year, Houston City Council approved the site as a Tax Increment Refinance Zone. In December, city council authorized a $14.5 million performance-based loan through the federal Community Black Grant Disaster Relief Program for rental housing projects.
Terms of the conditional loan state the development has a total of 350 units, including 179 affordable and 171 market-rate one and two bedroom units, and is part of a comprehensive mixed-use redevelopment of the Hardy Rail Yard site. On-site amenities will include a resident center offering computers and business center.
The affordable units, according to the developer, will be workforce housing, targeting renters with household incomes ranging from $35,000-$45,000.
The development’s total budget is $50,452,714, according to the December city documents. However, an April 6 project description by the developer now lists the total cost at $58.5 million.
“Currently, there are extensive public and private investments underway in the Near Northside with projects such as the Metro light rail Red Line extension and drainage and street improvements,” states the loan summary prepared by Housing and Community Development Director Neal Rackleff. “Additionally, the development is near the University of Houston Downtown campus and another Disaster Recovery Round 2 affordable housing development, Avenue Station.
“The Residences at Hardy Yards was one of five proposals selected out of 40 for funding through a competitive RFP process seeking proposals in DR 2 targeted Commuity Revitalization Areas. (Hardy Yards) is further validated by partnership and backing from the Houston Housing and Finance Corp. which formed HY FS LLC to undertake this development.
According to Swamplot, Lee Zieben of Houston-based Zieben Group registered a website (still under construction) to market Residences at Hardy Yards, and is listed as the development group principal in city documents. A construction loan of $27,473,993 and developer equity of $8,478,721 comprise the lion’s share of the project’s budget.
Zieben Group describes this as “a prime piece of real estate near downtown for a new luxury apartment project that the city of Houston hopes will revitalize the neighborhood.”
Zieben plans to build a four-story, Class A apartment community and calls this a “unique public-private partnership between Zieban Group, the city of Houston, the Houston Housing Finance Corp. and CommunityBank of Texas that aims to redevelop the industrial site and kick-start future development just north of downtown.”
Zieben bought the nearly 5-acre parcel from Cypress Real Estate Advisors for about $10 million.
Other features described includle a clubhouse with a sky lounge overlooking downtown Houston from the seventh and top floor of the parking garage, an outdoor cooking center with Wolf appliances, an infinity-edge pool and a resort-style courtyard pool with cabanas, a bocce ball court, horseshoe pit, volleyball court, full-time concierge service and a dog park with pet washing station.
Steinberg Design Collaborative is the architect, Jones & Carter is the civil engineer, United Engineers is the structural engineer and Greystar will be the property manager.
