HOUSTON — Radom Capital and Asana Partners have secured construction financing for and broken ground on Clock Tower Residences in Houston, the multifamily portion of the JV’s Heights Clocktower mixed-use project in Houston’s Heights neighborhood. JLL arranged a four-year construction loan through Veritex Community Bank. The project is a redevelopment of the Heights Clock Tower building, which dates back to approximately 1894. Radom acquired the property in 2020, according to the Houston Business Journal and CoStar, and co-owns the building with retail real estate investment firm Asana Partners.
Clock Tower Residences will consist of 214 units plus four additional units billed as “live-work” spaces as well as ground-floor restaurant space. Completion is slated for 2027. The project marks Radom Capital’s 15th development in the Heights.
The residential component of the adaptive reuse project will rise seven stories and will include such amenities as resident lounges, coworking spaces, media rooms and a fitness center. About four miles away, at 611 West 22nd St., residents will have access to a building with a community kitchen, gathering spaces, a yoga deck and a pool.
Cobalt Office was the architect, Farouki Farouki was the interior designer, and CultivateLAND provided landscape architecture services. Cadence McShane Construction Co. is the general contractor. JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Colby Mueck, Managing Director Michael Johnson, Associate Davis Burnett and Analyst James Lovell.