HOUSTON – (Realty News Report) – Kajani Capital Group will develop a multifamily community on 10.8 acres of land it recently acquired near Highway 59 in northeast Houston.
The 300-unit multifamily project, will be part of the Kingwood Place development located in the HEB-anchored center at the southwest corner of Hwy 59 and Northpark Drive.
Chris Bergmann Jr. of JLL represented the buyer, Kajani Capital Group, and Joan Collum of Collum Commercial represented the seller, Stratus Properties, in the off-market land acquisition.
“Kingwood Place is now 95 percent leased compared to only 40 percent pre-pandemic,” said Collum, President of Collum Commercial. “Located in Humble, Texas – only 20 minutes from Houston – Kingwood Place offers an attractive synthesis of big-city amenities and small-town living perfect for both retail tenants and multifamily developers.”
Kingwood Place provides a unique multi-use retail center for Kingwood and greater Lake Houston areas. In addition to HEB, other retail tenants include Starbucks, Twin Liquors, Chicken Salad Chick, Crust Pizza, Lupe Tortilla, Urgent Vet, Bubbly Paws, European Wax, Jersey Mikes, Nails of America and Go Health Urgent Care (a division of Memorial Hermann), with a small amount retail space available.
“We are excited to continue growing our portfolio of multifamily properties in the Houston Metro area,” said Khalid Kajani, Principal at Kajani Capital Group. “With several of the best retail anchor tenants, restaurants, and other amenities, this development will meet all the future tenant’s needs in one place.”
In the Champions area of northwest Houston, Kajani Capital Group recently broke ground on a 336-unit multifamily development. Other multifamily is under development in Houston’s Inner Loop, where a number of developers have started new projects. .
Nov. 18, 2022 Realty News Report Copyright 2022
Photo credit: Ralph Bivins, Realty News Report Copyright 2022
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File: Kajani Starting Apartment Project
File: Kingwood Place. Kajani Starting Apartment Project. Joan Collum. Chris Bergmann Jr.