HOUSTON – (Realty News Report) – Fein, a Houston-based multifamily firm, is breaking ground on the 318-unit Pavilion at The Groves Apartment Homes development on the northeast side of Houston in the Humble area.
This new Fein development is situated within The Groves, a 1,000-acre master planned community located 1.5 miles north of Beltway 8 between Woodland Hills Drive and West Lake Houston Parkway.
Fein, which specializes in high-end multifamily development, construction and property management, purchased 20.2 acres from Ashlar Development for the new project. The site is near the intersection of Madera Run Parkway and Woodland Hills Drive.
Steinberg Dickey Collaborative provided architectural services while interior design services were provided by Moore Design Group of Dallas. Westchase Construction Ltd., an affiliate of Martin Fein Interests, Ltd. will be the general contractor.
Nationwide Insurance is providing equity financing for the development while Frost Bank is providing the construction financing. Equity financing was arranged by Hal Holliday of CBRE.
The Class “A” property will have an environmentally friendly National Green Building Standard Silver designation and will have access to all of The Groves’ hike and bike trails.
Fein’s multifamily development is about two miles north of Generation Park, a large mixed-use project developed by McCord Development.
The multifamily project is expected to break ground in May 2020 and be completed in the first quarter of 2022, Fein said.
The two- and three- story, upscale apartment community will feature efficiency and one-, two- and three-bedroom apartment homes and several three-bedroom townhomes. The units will range in size from 556 SF to 1,734 SF.
Founded in 1989, Martin Fein Interests, Ltd. has developed 13,000 apartments in Houston, the Southwest, and Southeast regions in markets including Denver, Raleigh, Austin, San Antonio and Tucson.
Last week, it was announced that Fein has sold the The Belvedere Springwoods Village, a mid-rise 342-unit to MLG Capital, a Wisconsin-based real estate investment firm. Fein developed The Belvedere in 2014.
May 12, 2020 Realty News Report Copyright 2020
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