The Howard Hughes Corporation is putting on the Ritz near Houston.
The local firm plans to develop the Ritz-Carlton Residences, The Woodlands.
It will be the second Ritz-Carlton branded condo development in Texas, situated on the last available large-scale residential site on Lake Woodlands.
Ritz-Carlton, which is owned by Marriott International, opened condos in Dallas in 2007, in collaboration with the Fort Worth-based Crescent Real Estate.
The Woodlands project will be the first “standalone” condo project, with no hotel attached. A rendering shows a multi-floor building with an attached parking garage and lobby.
It will sit on 8 acres, with designs “inspired by iconic Texas estates,” according to a news release from Howard Hughes. Residents will have access to personalized services, on-site dining and a range of amenities. The number of condos and the building’s square footage weren’t disclosed.
Howard Hughes holds a portfolio of master-planned communities, which also includes Bridgeland and the Woodlands Hills.
Ritz-Carlton was chosen as a brand partner because of its established reputation in hospitality and branded private residences. Ritz-Carlton Residences are in more than a dozen international markets, 12 states and the District of Columbia.
The luxury brand exited Greater Houston in 1997, when the former Ritz Carlton in Post Oak, at 1919 Briar Oaks Lane, was redeveloped into the Luxury Collection before eventually becoming the St. Regis Houston in 1999.
The Ritz-Carlton Dallas, at 2121 McKinney Avenue, is the only Ritz-Carlton location in Texas. The 218-key hotel recently underwent a $20 million renovation that enhanced all guest rooms. That property’s owner, Fort Worth-based Crescent Real Estate has spent nearly $13 million adding amenities and renovating common spaces since 2017.
While branded condos are booming in places like South Florida, the trend is trickling into Texas, with projects such as the Four Seasons Private Residences Lake Austin and Rosewood Residences Turtle Creek in Dallas.
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The Woodlands was founded in 1974, and Howard Hughes bought The Woodlands development company in 2011. The community, which has a municipal government, has a diversity of housing types. Illinois-based Marquette Companies is developing 300 single-family rental homes at 1941 Sawdust Road in nearby Spring, for example.
Howard Hughes restructured itself into a holding company in August as it sought flexibility in future investment funding and to segregate assets and liabilities among subsidiaries.