HOUSTON – (Realty News Report) – Fein, a Houston-based multifamily development firm, has purchased 21.4 acres in north Houston in the City Place development where the global headquarters of Exxon Mobil is located.
Later this year, Fein will start building a 326-unit apartment project on the site, 2002 Spring Stuebner Road. The new residential community is named Echo Lake.
Fein purchased the City Place land from CDC Houston, a subsidiary of Coventry Development Corporation of New York.
CDC Houston is the master developer of City Place, formerly known as Springwoods Village, a 2,000-acre mixed-use development located at the axis of the Grand Parkway, Hardy Toll Road and Interstate 45 in northernmost Harris County.
City Place has a significant roster of corporate offices and health facilities on-site. In addition to the 3 million SF Exxon Mobil headquarters facility, Hewlett Packard Enterprise, HP Inc., ABS, Southwestern Energy, St. Luke’s Health – Springwoods Village Hospital and Kelsey-Seybold.
“Echo Lake will have a value rental price point to accommodate the range of corporate employees living in and around City Place,” said Rebecca Luks, Vice President of Development at Martin Fein Interests.
The Echo Lake apartments, designed by the Steinberg Dickey Collaborative, will have a wide variety of home styles, including townhouses.
Townhomes with garages
Forty percent of the units will consist of one- to three-bedroom townhomes with garages.
Echo Lake, described as a garden-style development, will showcase two- and three-story elevations and offer a selection of efficiency, plus one-, two- and three-bedroom apartment homes, ranging in size from 556 SF to 1,824 SF.
The community was designed by Steinberg Dickey Collaborative to achieve an environmentally friendly National Green Building Standard (NGBS) Silver designation.
Echo Lake is named for a 1.25-acre lake with trail system that will serve as a focal point for the community.
The Echo Lake apartments are Fein’s fourth multifamily development in City Place.
“Martin Fein and his company have been a great partner, and we are very pleased that he will be creating another high-quality residential option for our fast-growing community,” said Warren Wilson, senior vice president of CDC Houston.
In addition to The Canopy, Fein’s contributions to City Place include The Mark, located at 1600 Springwoods Plaza Drive and featuring 268-units in a six-story concrete and steel wrap, plus The Belvedere at 2323 East Mossy Oaks Road with 342-units in a five-story wood frame wrap.
Founded in 1989, Martin Fein Interests, Ltd. is a regional development firm based in Houston. The company has developed over 13,000 luxury apartments in Houston, the Southwest, and Southeast regions in markets including Denver, Raleigh, Austin, San Antonio and Tucson.
Jan. 25, 2024 Realty News Report Copyright 2024
Image: CDC Houston
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File: Fein Acquires Land in City Place. Coventry Development Corporation. Exxon Mobil. Fein Acquires Land in City Place. Springwoods Village