White Oak
Square

The site is a cleared, assembled corner at N Main St & North St (Glen Park Ave), immediately north of Downtown Houston — a seven-minute drive to the CBD, in a low-rise neighborhood that feels miles away — directly across a 60-foot right-of-way from White Oak Music Hall, Houston's flagship independent music venue (three stages, 400+ shows a year). Harris County records confirm the four core parcels (3009 & 3011 N Main, 411 & 415 Glen Park) held together as vacant commercial land, 0.59 acres; with the two adjoining parcels the full site is approximately 0.8 acres — a compact ~250 × 260 ft block with about 200 ft of N Main frontage and 190 ft on North St.

Houston has no zoning — no use, height, or FAR restriction applies. The corner sits in FEMA Zone X (minimal flood hazard), inside TIRZ 21 (Hardy / Near Northside), inside the Greater Northside Management District, and in a designated federal Opportunity Zone (tract 2104).

• Downtown Houston CBD2.6 mi · ~6 min
• UH-Downtown (14,000+ students)2.2 mi · ~5 min
• METRORail Red Line — Quitman station0.5 mi walk
• I-45 ramps at N Main0.8 mi
• I-10 ramps1.1 mi
• Hardy Yards / Burnett Transit Center1.4 mi
• FEMA flood zone at cornerZone X — minimal
• Opportunity Zone tract48201-2104

Street level. Glass retail wraps only the two street frontages — N Main and North St — under steel canopies; the middle of the block and remaining edges carry screened parking. Retail is sized at ±9,000 SF, aimed at food-and-beverage and neighborhood service tenants that feed off venue traffic.

Levels 2–3. Two structured parking decks (±185 spaces total with the ground level), wrapped in perforated metal and planting. On 400+ nights a year this podium doubles as event parking for White Oak Music Hall, whose 3,000-capacity Lawn is served by only ~320 on-campus spaces — a rare structural income stream for a residential podium.

Level 4 — the terrace. The full podium roof is an open landscaped terrace. On the 411–415 Glen Park side sits a double-height, glass-walled brewhouse — the new home of H-Town Brewing Co., owner-operated by the sponsor family, relocating from one block away — with an open-air event terrace on its roof overlooking the venue and the skyline.

Levels 5–12. Eight floors of residences (±100 units in a ~180-ft bar) fronting N Main, topped by a resident pool, clubhouse, and skyline deck on the roof. The foreground to the south is the venue's low 5-acre campus and a low-rise neighborhood — so the downtown panorama from the residences, terrace, and roof is effectively protected, a view premium almost no inner-loop mid-rise can guarantee.

ZIP 77009 is an income-gentrification story: population is flat (~35,800), but median household income jumped +48% in five years to $83,148 — now 28% above the City of Houston — with average household income of $144K and 28.8% of households earning $150K+. The prime renter cohort (ages 25–44) is 33% of the population, 41% of adults hold a bachelor's degree or higher, and 42% of households rent.

Home values tell the longer arc: the ACS median rose from $148K (2011) to $420K (2024); Redfin's June-2026 median sale price hit $630K, driven by new-construction townhomes. Institutions have noticed: HUD awarded Near Northside a Choice Neighborhoods planning grant (on-ramp to up to $50M), Harris County selected a master developer for the next 500 units at Hardy Yards, and Marquette Companies has branded the blocks around the music hall the "White Oak District," opening the 304-unit Tempo at White Oak in 2025 two blocks north and ~20,000 SF of district retail breaking ground across Keene St.

Houston is exiting its largest supply wave since the 1980s: ~26,000 units delivered in 2024, ~12,600–16,300 in 2025, a forecast 8,400 in 2026 and ~4,300 in 2027 — the thinnest pipeline since 2012 — while absorption has run at or above deliveries since early 2025. Critically for this site, 2026 deliveries inside Loop 610 are ~10% of 2025's volume (IPA). Metro occupancy is 91.6% and rent growth ~flat today; forecasters expect ~3% growth as the 2026–27 scarcity bites. In plain terms: a structural housing shortage is forming inside the Loop on exactly this project's delivery window — and almost none of the nearby pipeline is market-rate.

Live comps bracket the subject's positioning: Prose Hardy Yards leases from ~$1,171 with 8 weeks free; Tempo at White Oak (2025, two blocks north) spans $1,500–$3,000; new Heights lease-ups enter at $2.15–2.75/SF with ~10 weeks free. We underwrite $2.10/SF effective untrended ($1,533/mo on a 730 SF average) — between the Heights and Downtown bands, justified by view product, venue adjacency, and the absence of competing Class A towers in the corridor. Institutional exits for new inner-loop product run $200–230K/unit at 5.0–5.25% caps.

Retail fundamentals are the strongest leg: Texas retail vacancy (4.6%) is the lowest since the early 2000s, Houston's Inner Loop asks an average $32/SF NNN (metro $21.28), Greater Heights ~$34/SF, and current 77009 listings ask $24–35/SF. New-construction inline space here reasonably underwrites $30–38/SF NNN with F&B end-caps at the top of the range.

White Oak Music Hall is a measurable demand engine, not a vibe. State comptroller data puts its CY2025 alcohol receipts at $3.23M — the #1 venue in 77009 — implying roughly a quarter-million annual visitors arriving 300 feet from the site's retail, with only ~320 on-campus parking spaces. The surrounding 77009 bar/restaurant market did $19.9M across 59 venues in 2025.

The brewhouse is ours — an owner-operated amenity, not a tenant risk. H-Town Brewing Co. is founded and run by the sponsor family and already operates one block away; the move into a purpose-built terrace-level hall keeps a proven neighborhood following and puts the sponsor's own operation at the heart of the property. Precedents — New Realm on the Atlanta BeltLine, 8th Wonder in EaDo — show what a brewhouse does for surrounding small-shop rents in entertainment districts, and Texas taproom law (on-premise sales up to 5,000 bbl/yr, ~80% gross margin on direct pours) favors exactly this format. For underwriting transparency the space is carried at a market $22/SF NNN — the income case does not depend on it.

Development budget — full concept

Residential $/SF is carried below the $300–360 Type-I benchmark range on the strength of Houston's bid climate — an aggressive assumption, stress-tested below.

Stabilized income — untrended

At today's untrended rents and conventional costs, the full 12-story concept underwrites to a ~3.1% yield on cost against a ~5.7% blended market cap — a gap no responsible sponsor papers over. It is the same math that has kept every market-rate developer in the corridor at six wood-frame stories or below, and it is why the nearby pipeline is dominated by subsidized product. The full tower pencils when several of these levers land together:

The sponsor is raising construction capital for White Oak Square. The land has been owned by the sponsor for two years — assembled, cleared, and ready; the concept is defined; the approvals path is mapped. We are now assembling a select group of equity partners to carry the project through design, entitlement, and construction — with a structure built around the site's federal Opportunity Zone designation (10-year hold economics) and TIRZ 21 reimbursement potential, and with construction executed by the sponsor's own builder, Zitro Constructions.

A presale program will follow. Ahead of construction, priority reservations are planned for residences and for the retail and hospitality spaces — early partners and reserving parties secure position at pre-completion terms.

To request the full offering materials, contact the sponsor through the introduction that brought you here. Nothing on this page is an offer of securities — see the disclosures below.

• Do today's rents support the full build cost?Not yet — our plan for closing that is shown above
• What about Houston flooding?Site is in FEMA's lowest-risk zone; major drainage works finish 2029

• What about rising construction prices?Our own builder, early price locks, healthy reserve
• A music venue next door?It's the draw — managed under a good-neighbor agreement; we're locals