The Montage condo project by local real estate firm Pearlstone Partners celebrated its official groundbreaking earlier today, bringing approximately 182 new homes to a 1.86-acre property at 2323 South Lamar Boulevard, formerly the site of a used car dealership near Bluebonnet Lane. The building is currently scheduled for completion by the spring of 2025, according to the developers.
Rising to a maximum height of five floors on a site somewhat constrained by the compatibility requirements imposed by nearby single-family residences, the Montage community will contain a unit mix ranging from studios to two-bedroom homes, with a reported additional four live-work units on the ground level — that’s joined by approximately 6,000 square feet of retail space facing the street.
In addition to market-rate condos, Montage reportedly includes 18 affordable studio units as part of the city’s 10 percent affordability requirement of the site’s Vertical Mixed-Use zoning, with nine of those units designated for households earning 80 percent or less of the region’s Median Family Income and the remaining nine for households earning approximately 100 percent of the MFI.
The building’s design by local architects STG Design features a pretty striking use of green tile on its ground level, a colorful choice we’re happy to see in a city full of tastefully (and sometimes boringly) dark finishes. The Montage project team also includes interiors by local studio Kim Lewis Designs, civil engineers Walker Partners, and general contractors Summit Design Build. The development reportedly secured $75 million in construction financing from national real estate loan firm Knighthead Funding less than a week ago.