KATY, Texas – (Realty News Report) – Alliance Residential has opened its first Prose-branded multifamily property, Prose West Cypress a cost-efficient development located on the west side of Houston.
The Prose brand achieves attainable rental rates by eliminating some of the lavish amenities and upscale features in the common area, said Alliance Managing Director of Development, Cyrus Bahrami.
The Prose developments will deliver more practical homes, but still high-quality finishes in the living units, Bahrami said.
“Our focus here is on attainable housing, emphasizing quality construction and finishes, and practical amenities. The intent of our Prose brand communities is not to offer all the bells-and-whistles of one of our high-end luxury Broadstone brand communities, but to deliver everything that is core to a great living experience at a price point that is accessible to a wide range of residents,” Bahrami said.
In recent years, multifamily construction has been narrowly focused on Class AA developments. Tenants looking for workforce housing were relegated to existing communities – new construction was out of the question because of higher rents required.
“The amenity spaces include a clubroom with catering kitchen, co-working lounge, fitness and pool area with a covered grilling space – usable areas that extend the living experience beyond the walls of each residence. We prioritize these elements over specific features you might see in a Broadstone community, such as a golf simulator or art studio. We saw a need for thoughtfully-designed product types that offer everything residents need minus what they don’t need — that is our thesis for the Prose brand, which comes to life via our first community, Prose West Cypress,” Bahrami said.
The 336-unit Prose West Cypress is located at 19770 Clay Road, near Fry Road.
Alliance Residential says the brand is being developed “in response to a growing need for cost-efficient rental housing.”
Interior highlights at Prose West Cypress include island kitchens, wood plank style flooring and granite countertops. Community amenities feature a fitness center, game room and playground.
Alliance Residential Co. is based in Phoenix. Bruce Ward is chairman and CEO. John Rippel is chief investment officer.
Caption: Point West Cypress apartments. Photo: Courtesy Alliance Residential.
File: Alliance Launches Prose Brand
File: (2) Alliance Launches Prose Brand in Katy. 19770 Clay Road, Cyrus Bahrami.