The Worthing Companies to Build Luxury Multifamily Development in Wolff Companies’ Central Park
A 342-unit luxury multifamily living complex by The Worthing Companies will be constructed on a 9.00 acre site in Wolff Companies’ Central Park, a 78-acre mixed-use development in The Energy Corridor. The Heights at Park Row is targeted to open near the end of this year.
Headquartered in Atlanta Georgia, Worthing specializes in the development, construction and management of Class A, institutional-quality multifamily properties. With more than 25 years of experience in the industry, Worthing has successfully developed over 30,000 units valued in excess of $2.8 billion.
The Worthing Companies’ The Heights at Park Row will meet intense demand for top tier multifamily housing in the rapidly growing Energy Corridor market.
“The exceptional quality of The Worthing Companies’ properties and plans for The Heights at Park Row fit perfectly with our vision for Central Park to include national and multinational corporations, multifamily living and hospitality,” said David S. Wolff, Chairman and President of Wolff Companies. “Central Park has proven to be ideal for this high-profile development due to our stringent development standards, immediate proximity to green space, unparalleled access and our location in The Energy Corridor – one of the fastest growing submarkets in the country.”
Central Park is the largest greenfield development in The Energy Corridor. Immediately adjacent to permanent green space on the north and east, Central Park also is located near major employers such as BP (seen here from The Worthing Companies’ new site), ConocoPhilips and Shell.
The office construction and job growth in The Energy Corridor is creating the need for upscale multifamily housing in the area. The Corridor is home to more than 300 multinational companies occupying over 22 million square feet of office space. Another 5.4 million square feet is under construction – most of which is preleased. According to Clark Martinson, General Manager of The Energy Corridor District, “Our 2013 land use and demographics study projects population growth of more than 8 percent within the 30-minute drive-time area of The Energy Corridor, which now comprises more than 2.3 million people and 790,000 households. We need residential housing development in The Energy Corridor, and The Worthing Companies project helps us meet this impending demand.”
“Central Park is within walking distance of the Addicks Metro Park and Ride. With the Park and Ride’s direct access to the two-way “24/7″ Hov/Toll lanes in I-10, it is destined to become a major transit center in West Houston,” adds David W. Hightower, Executive Vice President of Wolff Companies. “This kind of transportation services is important to supporting high density residential developments, as well as office users.”
In Central Park, The Worthing Companies joins MD Anderson Cancer Center, the number one cancer treatment hospital in the United States, which acquired 34.5 acres in the park in 2012. Phase One of the long-awaited Park Completion Project, and Central Park West Boulevard, were completed in December. Phase Two of the Park Row project will connect Dairy Ashford to Highway 6 and on to the town of Katy, greatly improving mobility in The Energy Corridor.
The Worthing Companies and MD Anderson selected Central Park because of its development standards, immediate proximity to green space, unparalleled access and location in the thriving Energy Corridor. The completion of Park Row from Dairy Ashford to Highway 6 and on to Katy will greatly improve circulation in the area.
Parker Associates in the design architect for The Heights at Park Row. Jeff Peden with Cushman & Wakefield of Texas represented The Worthing Companies in the transaction.