The managers of Perkins Rowe plan to spend at least $8 million to complete construction of 89 apartment units in the mixed-use development.
Donna Taylor, of Stirling Properties, which manages Perkins Rowe at Bluebonnet Boulevard and Perkins Road, said the apartments are located in the back of the development in the building that houses Anthropologie, Sur La Table and Paris Parker Aveda. The first group of apartments, on the second floor of the building, will be ready for rent in May; the group of apartments on the third floor will be ready to lease in June; and the final group, on the fourth floor of the building, will hit the market in July.
Tommy Spinosa, the former developer, had planned on building out apartments in the unit at the southern end of Perkins Rowe. But the floors were left unfinished because of Spinosa’s financial difficulties, which culminated in a foreclosure sale of Perkins Rowe in 2013.
Taylor said that because of the partial build-out, it was easier to make the empty space apartments.
“We’ve had a lot of interest from people who want to live in Perkins Rowe,” Taylor said. There are 138 apartment units in the development, and Taylor said the occupancy rate is currently 93 percent.
The rental rates in Perkins Rowe are between $995 a month for a 606-square-foot studio apartment to $2,025 for a two-bedroom, two-bathroom apartment that is just under 1,400 square feet. Lease rates for the new apartments have yet to be established, but Taylor said the pricing will be “at least the same” as what is charged in the existing parts of Perkins Rowe.
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