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\u201cThe shift in timing reflected our decision to redesign XSpace<\/a> to better achieve product\u2011market fit, while also ensuring the right partners and funding were fully aligned,\u201d XSpace founder Byron Smith<\/a> said in a statement to Bisnow. \u201cThe design changes position us to scale and grow more quickly.\u201d<\/p>\n XSpace Houston will have 86\u00a0commercial\u00a0condo\u00a0units that\u00a0can be used as offices, man caves, garages or anything people want, except for a home. The units will range from 700 SF to 7K SF, with prices from $388K to\u00a0more than $5M for a combination of two units, according to a LoopNet listing<\/a>.<\/p>\n The additional time allowed XSpace to cement an equity deal with KDW, Pyek Financial and an advisory group led by Welcome Wilson Jr., Smith said. That strategic investment is in addition to the $29M construction loan arranged by\u00a0Adam Mengacci, Matt Polci and Sunny Sajnani<\/a> of\u00a0IPA Capital Markets<\/a>, a division of Marcus & Millichap.<\/p>\n \u201cWith partnerships, financing, and a more scalable design now in place, it\u2019s the right moment to move forward with the groundbreaking,\u201d Smith said.\u00a0<\/p>\n The Houston project\u2019s permit approval for the site and building came through in 2024 and 2025, respectively, according to an online timeline<\/a>.\u00a0Project delivery is slated for the first quarter of 2027.\u00a0<\/p>\n The company\u2019s first location opened in Austin in 2022. While the commercial condo concept isn\u2019t prevalent in the U.S., \u201cstrata storage\u201d is popular in Australia, where Smith is from. Strata is a property ownership model that allows individuals to own specific parts of a property, such as condominiums in the U.S., for commercial use only.<\/p>\n XSpace is a place for \u201canyone who\u2019s cool, interesting, successful\u201d to buy space and use it however they want, Smith told Bisnow in 2023.\u00a0\u00a0<\/p>\n