HOUSTON – (Realty News Report) – The Houston-based Fein multifamily development, construction and property management firm has purchased 17.44 acres from CDC Houston to develop The Canopy at Springwoods Village on the north side of Houston.
The 322-unit garden-style multifamily property will be located on Spring Stuebner Road, near Interstate 45.
This will be Fein’s third multifamily property in Springwoods Village, a 2000-acre mixed-use community where the 3 million-SF Exxon Mobil campus was built about six years ago.
Founded by Houston developer Martin Fein 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.
Earlier, Fein built two other apartment projects in Springwood Village: The Mark at Springwoods Village CityPlace, located at 1600 Springwoods Plaza Drive, features 268 units in a six story concrete and steel wrap; and The Belvedere in Springwoods Village, a 5-story, 342-unit community at 2323 East Mossy Oaks Road.
“We’re excited to be commencing construction on our third multi-family development in Springwoods Village. The Canopy represents an alternative rental price point for the many corporate employees living in and around Springwoods Village. We now have an apartment option for everyone from CEOs to entry level employees,” said Rebecca Luks, vice president of development at Martin Fein Interests.
The two- and three- story upscale apartment community is designed by Steinberg Dickey Collaborative. The units will range in size from 552 square feet to 1,705 square feet. The community is expected to break ground by January 2020, with an estimated completion in the fourth quarter of 2021.
“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 future residents,” said Warren Wilson, senior vice president of CDC Houston, the developer of Springwoods Village. “His project will represent another important step to Springwoods Village’s becoming a complete community with a full range of commercial, residential and recreational offerings.”
The new project will have environmentally friendly National Green Building Standard (“NGBS”) Silver designation.
Dec. 17, 2019 Realty News Report Copyright 2019
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