Pearl Point, a new 34-acre master planned community in Rockport has been announced by developers Uhr Real Estate, Inc. and Frew Development Group, LLC. Pearl Point will be home to “The Residences at Pearl Point” with 456 rental apartments and “Pearl Point Center” featuring retail and commercial uses.
The new development is located at the intersection of Pearl Street (FM 2165) and the Highway 35 Bypass where the two roadways create a triangular property with the “Point” at the intersection to the south.
The Residences at Pearl Point will be professionally managed by Greystar and will feature three-story “garden style” apartment buildings, a clubhouse with on-site management, a community room, fitness facility, business center, swimming pool, garages, pedestrian pathways, and green space.
It will be constructed in two phases, with Phase I scheduled to begin in March 2019 with completion by August 2020. Phase I will provide 96 one-bedroom units, 114 two-bedroom units and six three-bedroom units.
“Pearl Point answers the call from community leaders for new housing following the devastation of Hurricane Harvey,” said Mark Uhr, owner of Uhr Real Estate, Inc. “It will become a benchmark within the City of Rockport and will be an integral part of the Aransas County Disaster Recovery effort.
“From my experience developing the 200-unit Oaks at Bentwater Apartment Homes, I know that Pearl Point will be a highly sought-after destination.”
Aransas County Judge C. H. “Burt” Mills, Jr. said in the press release announcing the development, “When Uhr Real Estate and Frew Development Group approached the County last year with this proposal, the Commissioners’ Court voted to approve this assistance to the Aransas County citizens. This project relieves the need for immediate and affordable housing and could also address the need for infrastructure in the area. We look forward to the completion of the project and the revitalization of Aransas County.”
In the same release, Rockport Mayor Pat Rios said, “The City of Rockport is pleased to announce we have partnered with Uhr Real Estate and Frew Development Group to address the community needs for housing. Hurricane Harvey devastated all multi-family housing in Rockport. The Residences at Pearl Point will be a welcomed and needed addition that will provide a phased apartment development in a very desirable location in Rockport. Our community needs and deserves this project after everything we have experienced.”
Greystar Regional Property Manager Tommie Ann DeLeon said, “We are proud to partner with Mark and John at Pearl Point. We have a long engagement with the Gulf Coast housing market and Pearl Point will support local housing needs.”
Frew Development Group, LLC President/CEO John Frew said, “We have spent the last year preparing to build and our team is ready to go. We will deliver the clubhouse and first residential buildings by March 2020 and all of Phase I before school starts in August.”
Designed by award-winning architects Kelly-Grossman of Austin, the buildings will be constructed to withstand 150 mph winds, similar to what the area experience during Hurricane Harvey. The Pearl Point project team consists of: Uhr Real Estate and Frew Development Group (Developers/Construction Management); Kelly Grossman Architects, LLC (Architect); Greystar Real Estate Partners, LLC (Leasing and Property Management); Witt & Witt (Interior Design); Lippke Cartwright & Roberts (Civil Engineering); and Sterling Engineering (Structural and Windstorm Engineering.
Uhr Real Estate, Inc. is a Rockport-based real estate development company. Mark Uhr is a long-time homebuilder in Aransas County and was the developer of Oaks at Bentwater, the only major multi-family rental project in Rockport built in Rockport the last 20 years.
Frew Development Group, LLC is a private real estate development and construction management company based in Denver. Founded in 2003, FDG has managed more than two million square feet of renovation and ground-up construction in the office, commercial, retail, residential and hospitality sectors.
Greystar is a fully integrated real estate company offering expertise in investment management, development, and property management of rental housing properties globally. Headquartered in Charleston, SC, with offices throughout the United States, the UK, Continental Europe, Latin America, and Asia-Pacific, Greystar operates in more than 180 markets globally and is the largest operator of apartments in the United States, managing more than 491,000 conventional units/beds. It also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors. Greystar oversees approximately $115 billion in assets under management. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental housing real estate business.