Southern Land Co. Inks $165.9M Construction Loan for Upper Kirby Mixed-Use Project
Southern Land Co. has secured $165.9 million in financing for a mixed-use development underway in Houston’s Upper Kirby area. The Houston Business Journal reports that Bank OZK issued the loan to support the construction of the 2811 Kirby development. The project broke ground in April.
The 2-acre, 953,000-square-foot development at 2811 Kirby Drive, near the intersection of Kirby Drive and Kipling Street, will include two towers — one for offices and one for apartments — and approximately 15,000 square feet of ground-level restaurant space.
The 38-story Lily River Oaks luxury multifamily building will have 331 apartments, including 18 penthouses. A separate 10-story commercial tower will offer Class AA office space totaling approximately 107,000 square feet. Stream Realty Partners is leading leasing efforts for the office component.
Southern Land Co. expects to deliver the project in 2028.
The development team includes Andres Construction as general contractor and Solomon Cordwell Buenz as architect and interior designer.
