The Woodlands is getting a Ritz-Carlton-branded luxury condo development.
The Woodlands Land Development Co., a subsidiary of Howard Hughes Holdings Inc. (NYSE: HHH), is developing The Ritz-Carlton Residences The Woodlands on the last available large-scale residential site on Lake Woodlands.
The 8.6-acre tract is on the southwestern corner of Lake Woodlands Drive and Lake Robbins Drive, just south of Hughes Landing, Howard Hughes Houston region President Jim Carman confirmed. The property’s 2023 market value is more than $11.2 million, according to the Montgomery Central Appraisal District.
“We are pleased to officially announce The Ritz-Carlton as our brand partner for the private residences in The Woodlands, reflecting our enduring commitment to exceptional design and developing unique living experiences unparalleled in Houston’s real estate market,” Carman said in a press release.
Through a public relations agency, Howard Hughes declined to comment beyond the press release, including information on the groundbreaking date and size of the project.
The development will include an on-site restaurant and “a suite of exceptional amenities,” according to the release. Amenities at some other Ritz-Carlton Residences in the United States include 24-hour concierge service, spas and pet amenities.
Howard Hughes picked the Ritz-Carlton brand, which is a subsidiary of Marriott International, for its “proven commitment and loyal following in the worlds of hospitality and branded private residences.”
“Howard Hughes shares our steadfast commitment to top-tier quality, incomparable design and unparalleled service,” Sarah Khalifa, Marriott International’s vice president of mixed-use development, said in a statement. “We look forward to working with them to bring this groundbreaking residential development in The Woodlands to life.”
It will be the second The Ritz-Carlton Residences in Texas after The Tower Residences at the Ritz-Carlton Dallas and the first one unattached to a hotel. The development, which will be inspired by iconic Texas estates, will feature a limited collection of spacious residences for sale, the developer said.
While planned unit sizes and prices were not disclosed, a 1,107-square-foot condo with one bedroom and a study at The Ritz-Carlton Residences Chevy Chase outside Washington, D.C., for example, starts at about $850,000.
In Dallas, a 4,256-square-foot Ritz-Carlton condo previously priced at $3.5 million was auctioned to the highest bidder in 2020.
Just over a mile from The Ritz-Carlton Residences The Woodlands, Howard Hughes is building a 13-story apartment tower and townhome community in The Woodlands Town Center.
The Woodlands developer also recently acquired 7.8 acres in the Grogan’s Mill Village Center, including the former Randalls building, to turn it into a new library and community center for Montgomery County.