Development Updates in Houston:
While market conditions have been less than ideal for developers over the last year, demand for multifamily space has been sustained by Houston’s continuous growth. Many developers have looked to capitalize on the growing population in Houston, contributing to new development as thousands of units begin emerging across the city.
Wood Partners Adds Units in Katy
Wood Partners announced the grand opening of Alta Cypress Springs, a luxury residential community between Katy and Cypress, Texas. The community started welcoming residents in October and offers easy access to major routes like the Grand Parkway. Alta Cypress Springs features 330 upscale apartment homes with high-end finishes and amenities, including a resort-style pool, fitness center, and dog park.
Tannos Going Big in Friendswood
Tannos Development plans to break ground on the $710 million Friendswood City Center next year. The mixed-use development will include 11 commercial buildings, 150,000 square feet of retail, 200,000 square feet of offices and medical offices, a 500-unit mid-rise apartment community, and additional amenities. Tannos has sold sites for five retail buildings to third-party developers, aiming for the entire city center to be completed within the next three to four years. The city of Friendswood approved zoning changes and plans to create a public improvement district to support infrastructure development for the project.
Read King and Wayfinder team up for The Oak at Katy Park
Austin based Wayfinder Real Estate and Houston based Read King have teamed up to bring 350 units to Katy as demand for residential space continues to grow in the Houston suburb. The multifamily project is part of a larger mixed-use project, The Market at Katy Park. Read King will focus on the commercial space for the project which is expected to be 5 retail buildings housing roughly 20 shops.
Tag(s):
Texas Digest