The real estate boom in Houston continues, according to Culture Map Houston. In the Loop, pre-sales are becoming a typical part of business. For example, Bancroft Place, a development by Pelican Builders, features upscale townhouses for a presale price of 1.3 million dollars.
“As little as six months ago, pre-selling in Houston was rare,” Martha Turner said in a prepared statement. “But Pelican Builder’s reputation for high quality projects and fear of rising prices have contributed to pre-sales.”
Pelican Builders have also begun construction on the nearby Briarglen Commons, another townhome community that has presold 18 of the 24 total residences.
Another example is the recently finished Chateau Ten, which sold all 10 luxury units in 90 days, and Giorgio Borlenghi’s Belfiore high-rise sold both of their $8 million townhouses along with 12 additional homes.