Blockchain Real Estate in Texas for Fractional Ownership Investment
Blockchain Real Estate in Texas – 1717 Bissonnet is a fully entitled, approved, and permitted high-rise residential development site located in one of Houston’s most prestigious and sought-after areas, nestled between some of the city’s most affluent neighborhoods on a high traffic-count major thoroughfare with excellent visibility and very high barriers to entry. The subject site, which is entirely insulated from the competition, is the only undeveloped tract in an otherwise entirely built-up area large enough to accommodate a high-rise residential execution; it is primarily surrounded by heavily deed-restricted, high-value, single-family residential neighborhoods and gated townhome enclaves, thereby ensuring 360-degree “money-shot” views above a verdant tree canopy that can never be obstructed. It is this extremely unique and exclusive character of the subject site that made it especially vulnerable to NIMBY opposition during the permitting process – and especially so since the original 67-unit apartment project it contained was razed in 2015. Regardless, after settling a lawsuit brought against the City and winning a baseless lawsuit brought against them by a group of nearby residents, the developers have successfully entitled the site and obtained an active permit for the project. These barriers to entry, combined with the site’s location in a highly desirable area adjacent to the Texas Medical Center, with 50 million SF of office space and over 100,000 employees, Rice University, one of the U.S.’s finest with 7,000 students and 875 faculty, the city’s Museum District with 8 major museums, the large central Hermann Park containing the Zoo and outdoor amphitheater, result in a unique opportunity to develop a distinctive residential product that will stand alone in the West University/Southampton/ Boulevard Oaks submarket.
Investment Highlights of 1717 Bissonnet – Blockchain Real Estate in Texas for Fractional Ownership Investment
Strong Preferred Return
Preferred return of 8%, 3-year target IRR of 23.4% and 1.81x multiple.
Houston’s most desirable Historic Boulevard Oaks and Southampton neighborhoods near Rice University and Medical Center with average home sales of $1.8m. 1717 Bissonnet offers the most attractive pricing at $750 psf and very compelling lifestyle alternatives for this prestigious community.
A Sponsor You Can Trust
Seasoned Texas developers with 23 years of experience and completing 3000+ class A residential units.
One of a Kind Opportunity
Surging condo demand in Houston makes this remarkable infill location extremely rare for creating affordable luxury high-rise living to service professionals and downsizing empty nesters.
The strong barrier to entry-market has no luxury condos or apartment inventory within 0.5 miles of the property and no competitive nearby land inventory.
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