After a land deal last year, investors have slated a name and opening date for their mixed-use project in Wedgewood-Houston.
Standard Assembly, billed as a part-residential, part-retail development with 310 units, will open in summer 2022, according to a statement. Plans include two new five- and six-story buildings, as well as an 8,000-square-foot adapted reuse space. The project site, at 715 Merritt Ave., is about three acres right now, but will eventually expand to five acres, according to the statement.
Local developers Beau Fowler and Nathan Hysmith, alongside New York-based Atlas Real Estate Partners, are leading the project. Standard Assembly will be located in a federally designated Opportunity Zone, which means investors will reap tax breaks for building there. Fowler, Hysmith and Atlas paid $4.5 million for the site last year, NBJ reported.
With numerous studios and galleries, Wedgewood-Houston is known for its artists and other “makers.” When it comes to securing tenants for Standard Assembly’s 13,000-square-feet of retail space, Fowler said the goal is to attract businesses that fit naturally into the area’s art-hub feel.
The neighborhood has “incredible potential to become a leading creative center in the Southeast,” he said in a statement.
EOA Architects and Manuel Zeitlin Architects are handling design and planning. The project broke ground a few months ago and has a 20-month construction timeline, Fowler said.
