Medistar Development Building Multifamily

HOUSTON – (Realty News Report) – Medistar Developmentis developing a 300-unit multifamily community in the 3,000-acre Audubon development in Magnolia near Highway 249, north of Houston.

Medistar’s project, called Virtuo Audubon, will feature three-story, garden-style apartments on a 12-acre tract acquired from Audubon Magnolia Development LLC.

The 300 units will be split among nine buildings. Construction is expected to begin at the end of 2022, with pre-leasing to begin fourth quarter 2023, according to Medistar. The first residents would move in during the first quarter of 2024.

Virtuo Audubon apartments will have contemporary finishes that would be found in a single-family home, said Avi Elfezouaty, Senior Vice President of Development and Acquisitions for Medistar. The apartment interiors will offer gas ranges; Energy Star-rated appliances; tankless gas water heaters; and granite countertops. Rents are currently projected to range from $1,320 to $2,050 monthly.

Unusual: Kitchens with Gas Appliances

Differentiating these apartments from those found in some other master-planned communities is the use of gas appliances.

“It is very unusual to have gas cooking available in a multi-family complex,” Elfezouaty said. “We are also going to offer hydronic heating, making this a more energy-efficient development. These added features will set us apart.”

Medistar is planning an array of amenities for the complex, including a pool, fitness center, resident lounge, business center with a coffee bar, outdoor grilling areas and charging stations for electric vehicles. The complex will also connect with the community trail system.

“We are working with the developer, Audubon Magnolia Development, so our luxury apartment community will flow and be part of the larger Audubon community,” Elfezouaty said. “Our green spaces incorporate a similar desire to bring nature and rich landscaping to the community so it naturally fits with the whole surrounding community.

“Audubon is one of the more thoughtful and well-planned communities in this area. That, and the cohesiveness of the community are what most attracted us,” Elfezouaty said.

The apartment complex is part of a combined 2,500 units Medistar currently has underway across its national multifamily   and student housing portfolios. It will be located at the northeast intersection of Audubon Parkway and Audubon Trace near a planned regional shopping and lifestyle experience hub. Audubon has reserved approximately 550 acres of Audubon’s nearly 3,000 acres for mixed-use development, including retail, dining and other offerings.

“Audubon is designed to encourage connections,” said industry veteran Sam Yager,vice president of Audubon Magnolia Development LLC.

Homes are planned to be within walking distance of community trails, parks and unique amenities such as the Screech Owl habitat in Screech Park in Audubon’s Creekside North District. The park also offers a play structure, swings, bench seating, activity lawns and trails.

Legacy Park, located in the Audubon Park District, is expected to open in June. It is centered around three majestic oak trees with trails, swings, purple martin houses, a hummingbird meadow, a playground, shady picnic areas and more, Yager said.

“Developers talk about how their master-planned communities are different, but Audubon is truly distinct,” Yager said. “Our entries have an edginess that potential homebuyers will find very appealing. Our builders have embraced our vision offering a variety of floor plans, square footage and lot sizes. That means as our residents’ needs change, they will be able to find exactly what they need without having to leave a community they have formed a deep connection to.”

Building in Audubon are Anglia Homes, Devon Street Homes, Drees Custom Homes, Empire Communities and Perry Homes. Pricing is from the $280,000s. A fast sales pace has accelerated the community into its second phase, Yager said.

Audubon is located in the City of Magnolia’s extra-territorial jurisdiction just west of The Woodlands at the intersection of the State Highway 249 toll road and FM 1488. Students attend schools in the Magnolia Independent School District, which has purchased a 14-acre tract in the community for Audubon Elementary School.


July 1, 2022 Realty News Report Copyright 2022

File: Medistar Development Building Multifamily in Magnolia

Image Courtesy Medistar

THE RALPH BIVINS PROJECT PODCAST 

 LISTEN: THE RALPH BIVINS PROJECT podcast with Carlos Bujosa of Transwestern 

LISTEN: THE RALPH BIVINS PROJECT podcast with Kris Larson of Central Houston Inc.

LISTEN: THE RALPH BIVINS PROJECT podcast with Jason Gaines of NAI Partners.

LISTEN: THE RALPH BIVINS PROJECT podcast with  Mike Spears of Lee & Associates Houston

LISTEN: THE RALPH BIVINS PROJECT podcast with  Maria Perez of Gensler

LISTEN: THE RALPH BIVINS PROJECT podcast with   Bob Parsley of Colliers  

LISTEN: THE RALPH BIVINS PROJECT podcast with Michael Scheurich of Arch-Con

 

File  Sam Yager. Medistar Development Building Multifamily in Magnolia.

Related posts

Medical Giant Joins Ion Innovation District

Realty News Report

Houston’s Hot Apartment Market

Realty News Report

Baker Botts Leases Space in Downtown Skyscraper

Realty News Report

Leave a Comment