BAYTOWN, Texas – The Leyendecker Group has broken ground on Watercolor Luxury Apartments, a Class A, 240-unit project in Baytown, an industrial community on the Gulf Coast near Houston.
“We are excited and pleased to develop our first Baytown property during this particular time of increasing employment in this area,” stated Charles Leyendecker, CEO of Houston-based Leyendecker Group.
Economic conditions along the Gulf Coast of Texas are being lifted by the nation’s shale energy boom. Abundant, low-priced natural gas from domestic oil fields has prompted petrochemical giants, such as Chevron, Dow and ExxonMobil, to undertake massive chemical plant expansions. Over $100 billion in chemical plant expansion is under development from Louisiana to Corpus Christi, Texas.
At a ceremony Thursday, Baytown Mayor Steve DonCarlos said: “The new Watercolor apartments will help fill a void in luxury apartment homes. We anticipate tremendous growth in our population in the near future and we are proud to be able to offer this upscale residential living.”
The expanding petrochemical and healthcare industries in the Baytown, which is 26 miles east of Houston, are driving the need for more and better housing for their fast-growing employee populations, Leyendecker said.
The eight, three-story buildings will have a brick and masonry façade. Five floor plans from 633 square feet to 1,304 square feet will be offered. The project will open in 2015.