Ceremonial Kickoff Held for The Preston
The Cresset-Diversified QOZ Fund and Hines hosted a ceremonial kickoff lunch on May 30 to celebrate the groundbreaking for The Preston, a luxury residential high-rise community in downtown Houston. When completed, The Preston will offer 373 luxury residences and soar 46 stories high, making it taller than any other downtown residential community in Houston. It will boast panoramic views of the Central Business District, Market Square Park, Sesquicentennial Park and Buffalo Bayou, as well as long views to the Heights area and beyond.
The kickoff event was attended by members of the project team, including Cresset Partners, Diversified Real Estate Capital, members of the Hines family, Munoz + Albin (design architect), Harvey Builders (general contractor), Mayfield and Ragni Studio (interior architect), TBG (landscape architect), and Jones Lang LaSalle. John Mooz, a Senior Managing Director for Hines, welcomed guests and spoke about Hines’ history in Houston and the multi-family investment platform. Kevin Batchelor, also a Senior Managing Director for Hines, spoke about how The Preston project came together and how it is expected to change the landscape in downtown Houston. Larry Levy, Founder of Diversified Real Estate Capital; and Avy Stein, Co-Founder of Cresset; spoke about their partnership with Hines and other projects in Opportunity Zones around the country.
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