HOUSTON – (Realty News Report) – Wood Partners, an Atlanta-based multifamily developer has broken ground on the 364-unit Alta River Oaks, a mid-rise project in the Inner Loop of Houston.
The site, 3636 W Dallas St., is just east of Shepherd Drive and south of Allen Parkway and Buffalo Bayou. It is two and half miles from Downtown Houston.
“The River Oaks neighborhood is among the most desired in the entire Houston area,” said Bart Barrett, Managing Director for Wood Partners.
Alta River Oaks is slated to open in the fourth quarter of 2020.
Wood Partners, one of the largest multifamily developers in the nation, recently started another Inner Loop project – the 304-unit Alta West Alabama, 3623 West Alabama St.
A recent report from CBRE said 19,922 units are under construction in the Houston area. Absorption has been very strong with 10,000 units being absorbed year-to-date, more than the 8,500 in the entire year of 2018, CBRE reported.
Wood Partners now has eight properties completed or in development in the Houston area, joining a list of 17 properties in Texas.
The company currently owns 63 properties, more than 17,000 units, across the United States. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Nashville, Orange County, Orlando, Phoenix, Portland, Raleigh-Durham, San Francisco, Washington, D.C., and West Palm Beach.