Houston, Texas, August 30, 2025
News Summary
A four-year construction loan from Veritex Community Bank has been arranged to fund Clock Tower Residences, a seven-story boutique multifamily building with 214 units beside the historic Heights Clocktower in Houston. Developed by a joint venture of Radom Capital and Asana Partners, the project includes four live-work units, ground-floor food-and-beverage space, and extensive resident amenities such as lounges, coworking, media rooms, a fitness and wellness center, yoga deck and pool. Designed by Cobalt Office with interiors by Farouki Farouki and landscaping by CultivateLAND, the development has broken ground and is planned for delivery in 2027.
Clock Tower Residences Secures Four-Year Construction Loan; 214-Unit Boutique Apartment Rises Near Heights Clocktower
A four-year construction loan arranged through Veritex Community Bank will fund the Clock Tower Residences, a 214-unit boutique apartment building being developed next to the historic Heights Clocktower in Houston. The loan was arranged by a debt advisory team at JLL and the loan amount was not disclosed.
What the financing covers and who is behind the project
The borrower is a joint venture between Houston-based Radom Capital and Charlotte-based Asana Partners. The project is the residential piece of an adaptive reuse and mixed-use plan built around the award-winning Heights Clocktower landmark. Radom Capital has started site work and has broken ground on the seven-story Clock Tower Residences, which is slated for delivery in 2027.
Size, scope and location
Clock Tower Residences will include 214 newly built residential units and four live-work units. The building will rise seven stories and sit at the intersection of 23rd Street, North Shepherd Drive and Lawrence Street, adjacent to the historic Clocktower property at 611 W. 22nd St. The site is directly across from the new Heights grocery and is located in a busy Shepherd corridor with restaurants, parks and shops within walking distance.
Amenities and ground-floor use
The development will include a neighborhood-focused food-and-beverage concept on the ground floor that will be open to both residents and the surrounding community. On-site amenities will combine community and wellness spaces, including resident lounges, coworking spaces, media rooms, a resort-quality fitness and wellness center, entertainment areas with a shared kitchen, contemporary gathering spaces, a yoga deck and a pool designed for a calm, understated feel. The programming is described by the development team as blending apartment living with a curated, boutique experience.
Design and landscape teams
The building was designed by a collaboration of nationally recognized firms. The architectural design is led by Cobalt Office with attention to scale, materiality and proportion to match neighborhood context. Interior design is by Farouki Farouki and aims for layered, warm and tactile spaces. Landscape architecture and exterior amenity planning are handled by CultivateLAND, which plans elevated planted amenity decks and a lush, walkable ground plane to soften the urban edge.
Financing and advisory details
JLL’s Debt Advisory team represented the borrower in arranging the construction financing through Veritex Community Bank. The advisory team on the assignment was led by two senior team members and included additional associates and analysts. Specific loan pricing and the loan amount were not released.
Project context and developer history
The new residential building will serve as the multifamily wing of an adaptive reuse and mixed-use development anchored by the historic Heights Clocktower, a structure that dates to 1894 and has been adapted over time for offices and retail. The Clocktower building previously received an Urban Land Institute award. Radom Capital has delivered multiple projects in the Heights and this development marks the firm’s first ground-up multifamily project and its 15th development in the area.
Timeline and next steps
Groundbreaking has occurred and construction is underway, with delivery targeted in 2027. Site work, vertical construction and tenant amenity fit-out will be the near-term milestones to watch as the project moves toward completion.
Why it matters to the neighborhood
The project adds a residential component immediately adjacent to an established mixed-use landmark and a growing retail corridor. With ground-floor hospitality space open to the public and amenity areas designed for community interaction, the development is positioned to add housing options and neighborhood services within walking distance of local businesses and transit corridors.
Frequently Asked Questions
What is Clock Tower Residences?
Clock Tower Residences is a seven-story, 214-unit boutique multifamily development being built next to the historic Heights Clocktower in Houston.
Who is developing the project?
The project is developed by a joint venture between Radom Capital and Asana Partners.
How is the project being financed?
The construction financing was arranged through Veritex Community Bank and was brokered by JLL’s Debt Advisory team. The loan term is four years and the loan amount was not disclosed.
When will the building be completed?
Delivery is expected in 2027.
What amenities will the building include?
Amenities include resident lounges, coworking spaces, media rooms, a resort-quality fitness and wellness center, entertainment areas with a shared kitchen, contemporary gathering spaces, a yoga deck and a pool.
Where exactly is the site?
The site sits at the intersections of 23rd Street, North Shepherd Drive and Lawrence Street, adjacent to 611 W. 22nd St., and is directly across from the new Heights grocery store.
Who designed the building?
Architectural design is by Cobalt Office, interiors by Farouki Farouki, and landscape and exterior amenity design by CultivateLAND.
Has construction started?
Yes. The developer has broken ground and construction is underway.
Key Project Features
| Feature | Detail |
|---|---|
| Project name | Clock Tower Residences |
| Units | 214 residential units; 4 live-work units |
| Stories | Seven |
| Ground-floor use | Neighborhood-focused food-and-beverage concept open to public |
| Amenities | Lounges, coworking, media rooms, fitness center, pool, yoga deck, shared kitchen |
| Developers | Joint venture: Radom Capital and Asana Partners |
| Lender | Veritex Community Bank (loan arranged by JLL) |
| Loan term | Four years |
| Estimated delivery | 2027 |
| Site location | Intersection of 23rd St, North Shepherd Dr & Lawrence St; adjacent to 611 W. 22nd St. |
| Design team | Cobalt Office (architecture), Farouki Farouki (interiors), CultivateLAND (landscape) |
Deeper Dive: News & Info About This Topic
Additional Resources
- REJournals: JLL Capital Markets provides financing for Houston’s Clock Tower Residences
- Wikipedia: Houston Heights
- REBusiness Online: JLL arranges construction loan for 218‑unit multifamily project in Houston
- Google Search: Clock Tower Residences Radom Capital
- Community Impact: Clock Tower Residences in the Heights breaks ground
- Encyclopedia Britannica: Houston
- KHOU: Radom Capital apartment Clock Tower Residences
- Google News: Clock Tower Residences Houston
- ConnectCRE: Radom building rental community adjacent to Houston landmark
- Google Scholar: adaptive reuse clock tower
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