Randall Davis has completed the purchase of (most of) the 1405 Post Oak property where that long-standing McDonald’s was getting in the way of his Astoria development (the rendering of which is shown here), reports the Houston Chronicle‘s Nancy Sarnoff: The McDonald’s that appeared in last Monday’s Daily Demolition Report is expected to be replaced with a smaller one near the edge of the
30,466-sq.-ft. 1.23-acre property, making room for the 70 28-story luxury tower — with 3-bedroom units going for $1.3 million — that’s being marketed as a path of upward mobility: “Davis has been luring investors through the federal government’s EB-5 visa program where wealthy would-be immigrants can put $500,000 or $1 million into a job-creating commercial enterprise and become lawful permanent residents of the United States.” [Houston Chronicle ($); previously on Swamplot] Rendering: Randall Davis Company
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