Rendering of Oden Hughes new multifamily project in Clear Lake City.
HOUSTON – (Realty News Report) – Austin-based Oden Hughes LLC has broken ground on a 380-unit apartment complex at the corner of Bay Area Blvd. and Middlebrook Drive in Clear Lake City on the southeast side of Houston.
MXCAP, a Monterey, Mexico-based group led by Jorge Alberto Sanchez Salinas, is a significant investor in the project.
A lack of sufficient utility infrastructure has tamped down multifamily construction in Clear Lake, said Tim Shaughnessy, Vice President of Development at Oden Hughes.
“There’s a lot of demand for new apartments in this area but land use restrictions and a shortage of utility infrastructure make it challenging to build,” said Shaughnessy.
Only one multifamily developer broke ground in the area last year, and to date Oden Hughes is the only developer to announce plans to begin building apartments nearby in 2019.
Oden Hughes purchased the property from nearby San Jacinto Community College in December of last year after a competitive bidding process.
Scheduled to open in mid-2020, the 21-acre community at the northeast corner of Bay Area Boulevard and Middlebrook Drive will offer 360 apartments and 20 townhomes and is located within the boundaries of the highly rated Clear Creek Independent School System.
“We really like this site because it’s highly visible and well-connected to this great neighborhood,” Shaughnessy said. “People can walk to work in just a few minutes. The community also will be in a great school system and offer amenities that can’t be found in any other multifamily development in the area today.”
Amenities will include attached and detached garages, carports suitable for boat storage, an onsite co-working space, fitness on demand, resort-style pool with cold spas, jogging trails, a dog walking area and dog washing station, and a playground.
The one-two-and-three bedroom units are expected to rent for between $1,100 and $2,300 a month.
June 10, 2019 Realty News Report Copyright 2019