HOUSTON – (Realty News Report) – Fein, a Houston-based multifamily development firm, has broken ground on a 326-unit multifamily community in north Houston’s City Place.
Called Echo Lake, the apartment project is Fein’s fourth multifamily development in City Place.
It is being constructed on a 21.4 acre tract of land at 2002 Spring Stuebner Road which it acquired in December 2023 from CDC Houston, a subsidiary of Coventry Development Corporation, New York and the master developer of City Place
Named for the 1.25-acre lake with trail system that will serve as a focal point for this multifamily community, a garden-style property is being designed by Steinberg Dickey Collaborative.
The community Is expected to achieve an environmentally friendly National Green Building Standard (NGBS) Silver designation. Echo Lake will showcase two- and three-story buildings and offer a selection of efficiency, plus one-, two- and three-bedroom apartment homes, ranging in size from 556 SF to 1,824 SF. Approximately 40% of the units will consist of one- to three-bedroom townhomes with attached garages.
“We look forward to commencing construction on our fourth multi-family community in City Place, where the work-live-play and nature-focused lifestyle created by CDC Houston has proven to be an optimal environment for our developments and our residents,” said Rebecca Luks, vice president of development at Martin Fein Interests. “Echo Lake will be tailored to the area with a value rental price point accommodating the range of corporate employees living in and around City Place.”
Located directly across Spring Stuebner from a new Bass Pro Shops destination retail superstore which debuted in 2024, the site is bookended by The Canopy, a 332-unit property completed by Fein in early 2021, and The Market, a popular, Kroger anchored lifestyle center. It is located in close proximity to a network of hike and bike trails and City Place’s nature preserve, a 60-acre urban core with additional dining and entertainment offerings such as 24 Hour Fitness and Star Cinema Grill, programmed central plaza and waterfront park, as well as major employers including Exxon Mobil, Hewlett Packard Enterprise, HP Inc., ABS, Southwestern Energy, St. Luke’s Health – Springwoods Village Hospital and Kelsey-Seybold.
“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, Executive 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, featuring 268-units in a six-story concrete and steel building, plus The Belvedere at 2323 East Mossy Oaks Road with 342-units in a five-story wood frame structure.
The luxury community is expected to open first units in the second quarter of 2026 with an estimated completion date in the second quarter of 2027.
Collaborating Firms
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. (FEIN) will be the general contractor for the development.
Financing
Open House Group is providing equity financing for the development while Comerica Bank is providing the construction financing. Equity financing was arranged by industry veteran John Fenoglio of CBRE. In 1982, Fenoglio co-founded Holliday Fenoglio and – under his direction – Holliday Fenoglio Fowler became the largest commercial mortgage banking firm in the nation.
Founded in 1989, Martin Fein Interests, Ltd. is a regional multifamily development firm with Texas roots. In the 1990s, company founder Martin Fein was named in a Houston Chronicle article by Ralph Bivins as one of five young, up-and-coming future leaders of the Houston real estate community. Fein went on to develop some 13,000 apartments in Houston, the Southwest, and Southeast regions in markets including Denver, Raleigh, Austin, San Antonio, and Tucson.
City Place – formerly named Springwoods Village – is located at the axis of the Grand Parkway, Hardy Toll Road and Interstate 45. Spanning 2,000 acres, City Place has three Marriott hotels, 4.75 million SF of office space, and The Market – Houston’s first LEED Certified multi-tenant retail development.
April 4, 2025 Realty News Report Copyright 2025
Image: Courtesy Fein
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