You've heard the old saying that "the three most important things in real estate are location, location, location." The developers of The Tanglewood could not agree more.

The Tanglewood, a mid-rise loft building with 62 residences now under construction, is located at 1616 Fountainview, and marketed by Heritage Texas Properties.

An increasing population of busy young professionals and a maturing generation of baby-boomers have created a growing demand for the sophisticated and carefree lifestyle offered by loft and mid-rise living. For downsizing empty-nesters, a condition of selling is to stay in their neighborhood without the continuing upkeep of a house and grounds.

Until now, all of Houston's loft development activity was centered in the Downtown and Inner Loop areas. With the commencement of construction on The Tanglewood, a market niche will be met. It is the first loft building outside of the West Loop, an ideal solution for individuals attracted to the affordability and flexibility of the loft concept but who prefer the Uptown environment and lifestyle with parks, walking trails, and neighborhood comfort.

"Nestled among some of the city's most well-kept neighborhoods, this is an established pedestrian community with an abundance of shops and restaurants, overlooking lush green trees that line the streets and esplanades" said James Wallace, the Houston developer who is building the project.

Wallace is in partnership with Houston attorney and businessman, Steven E. Halpin, and Silicon Valley Diversified, a California-based real estate investment firm. The group has developed a number of projects in Houston, including the Ironwood Apartments and the Woodlake Collection Shopping Center.

According to architect Carlo Di Nunzio, who designed The Tanglewood, "the building will have an exterior of stone, brick and plaster and present a pleasant landmark for the neighborhood." Tribble & Stephens Co. is the general contractor for The Tanglewood.

"The Tanglewood is considered a soft loft," said Cheri Fama of Heritage Texas Properties. "It has the high ceilings and open floor plan of a loft, but also has partitions to create separate master suites and rooms, and a more refined and finished look with sleek kitchens, granite counters, stainless steel appliances and slate or marble baths."

The Tanglewood will have one and two-story residences ranging in size from approximately 1,100 square feet to over 4,000 square feet on the penthouse level. Building amenities include a pool and courtyard, exercise facility overlooking the pool, on-site concierge service, expansive lobby, and assigned and visitor parking with controlled access and strategically located cameras and telephones. Residences in The Tanglewood will range from about $220,000 to more than $1 million for the spectacular two-story penthouses.

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