The Woodlands has tried to hedge against the impact of low oil prices, but signs of a potential slowdown have started to show.
A 23-story luxury condominium called the Treviso at Waterway Square was designed as a slick glass building with a waterfront view near walkable urban amenities, an embodiment of The Woodlands' "live, work, play and stay" concept.
After unit pre-sales in 2015 and a redesign of the residential tower,
The Woodlands Development Co. announced its decision to put plans on hold due to the uncertain economic climate.
"The Woodlands Development Co. is confident that Treviso, as planned and designed, is the appropriate iconic residential building for the premiere site it will occupy. The Woodlands Development Co. will restart the sales process once the market shows signs of rebounding," the developers said in a statement.
During preliminary reservations at a private event in May, 46 reservations were reported to have been made. Units started at $650,000, and the Treviso was expected to begin construction in time for a late-2017 opening after half of the units presold.
