The ’70s was the heyday of the condo conversion rage. The calculation was not a difficult one. A condo conversion made sense when the units would sell for more individually than together as a multifamily property.

The Parklane in Houston was originally designed to be condos. The units were unusually large, nearly 1,500 square feet on average. But times changed and in 1983, the developer went with rental units instead.

And now, Houston-based Tema Development is going back to square one. It began retrofitting The Parklane into condos in 2020, 195 of them in the 35-story tower. And move-ins have started.

Besides a pool, the amenity deck features an overhauled fitness center, a tennis court, a dog park, a playground area and an outdoor fitness area.

Other amenities at The Parklane include a coffee bar and lounge, valet service, reserved parking and a shuttle service to the Texas Medical Center and the city’s light rail.

Units in the building start in the $300,000s, plus an additional homeowners’ association fee.

Industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. Don’t miss the expert’s take on where the market is headed, and what changes are on the horizon. Register Now!