Caydon planning Midtown apartment development

The Midtown to be developed by Cayden. The Midtown to be developed by Cayden. Image 1 of / 36 Caption Close Caydon planning Midtown apartment development 1 / 36 Back to Gallery

Australian development firm Caydon Property Group said this week it plans to start construction in January on a high-end apartment project in Midtown.

According to a statement on the company's website:

The site for The Midtown is in a specifically chosen location, strategically placed for success. The area is poised to become the most exciting destination in Houston's inner city sitting alongside the Metro Rail, only five kms from the world's biggest Medical Precinct.

Caydon said the luxury project will offer hotel-style lifestyle with a "sky lounge, pool deck and its own dog park." The 380-unit building is being designed by Houston-based Ziegler Cooper Architects.

Earlier this year, the Australian Financial Review reported that Caydon principal Joe Russo paid $10.5 million for two Midtown development sites across from each other with plans for 1,000 apartments.

Russo offered his impressions of developing in Houston, noting the city's more relaxed building guidelines.

"There's no zoning at all like there is in Melbourne. You go through a planning authority but it's pretty straightforward. I bought my first site in January and will commence construction in November." "There are no off-the-plan sales. I will build the tower, lease it up and then sell the apartments to a pension fund in one line. For me it's like a working holiday."

Caydon could not be reached immediately for more details, but this local real estate forum suggests the sites are along Main Street across from the Superblock.