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Apartment living PROJ EC TED TO R I SE
3 Multifamily complexes coming to Shenandoah
4 Residential build-out approaches in TheWoodlands for single-family homes
Three plannedmultifamily projects under development in Shenandoah could bring 1,000 new living spaces to the city, which is now home tomore than 2,700 residents occupying around 1,300 housing units. The Life Time residential apartment complex on Six Pines Drive, The Residences at Metropark Square on I-45 and TheWoodlofts on David Vetter Boulevard will each contain between 325 and 420 apartments, according to developers. The developments could attract new residential demographics such as young professionals and empty nesters in a shift away from the city’s traditional single- family housing, according to city officials and housing analysts. The new complexes have not yet been permitted by the city, so constructionmay not begin for several months— later than originally projected—but initial plans put some of the facilities’ opening dates in the early 2020s. Metrostudy Houston Regional Director Lawrence Dean, who studies housing in the Greater Houston area, said he does not expect the new apartment complexes to change the character of the city. “Adding a larger number of new apartment units, inmy mind, probably won’t change Shenandoah appreciably, because even though Shenandoah has a small population, and it’s geographically small, because of where it is and everything that surrounds it, it already functions like a very urban area,” Dean said. ADDITIONAL REPORTING BY ANDREWCHRISTMAN
Single-family residential lots are approaching build-out in The Woodlands, with only a few hundred remaining to sell to homebuilders, said Heath Melton, the senior vice president of master-planned communities for Howard Hughes Corp., the company that manages real estate development in The Woodlands. The last village in The Woodlands being developed by the company for traditional single-family homes is Creekside Park, the portion of The Woodlands in Harris County east and west of Kuykendahl Road. “We are putting in our last neighborhoods or sections on the ground, so from a development standpoint we’ll be developed out this year,” Melton said. The company has just over 300 lots remaining to sell to homebuilders, and its inventory is also at about 300 lots, he said. Builders in Creekside Park include Darling Homes, which is developing the Coronet Ridge and Waterbridge neighborhoods. Another area with development space remaining is East Shore, including a new section by Darling Homes—The View at East Shore—which will begin construction in the late summer, Melton said. David Weekley Homes will also begin on homes in the East Shore area in 2020. Between the two builders, just under 100 new home sites will be developed in East Shore, he said. “We’ve worked closely with our builders to bring new, fresh current product to market, with Darling Homes in Creekside [Park], a modernist collection and that has resonated very well with consumers,” Melton said. “That’s a little bit more of a modern, contemporary style.” When residential build-out is complete, the company will continue to develop commercial and multifamily properties over the next 5-10 years. The company is also developing the master-planned community The Woodlands Hills north of Conroe. “It’s kind of at our tail end of life cycle for residential, but we’re in the top 10 in Houston … for permit startups. That shows the staying power that The Woodlands has,” Melton said.
Three new multifamily complexes, consisting of hundreds of residential spaces, could open in Shenandoah within the next several years, according to developers.
(2017U.S.CENSUSESTIMATES) SHENANDOAHDEMOGRAPHICS
1,323 OCCUPIEDHOUSINGUNITS
2,733 POPULATION
THE RESIDENCES ATMETROPARK
LIFE TIME RESIDENTIAL
THEWOODLOFTS COMPLEX Units: 350 Bedrooms: 1-3 Rent: TBD Timeline: 2019 construction begins
Units: 324 Bedrooms: 1-3 Rent: $1,232-
Units: 420 Bedrooms: 1-3 Rent: $2,220- $3,500 per month Timeline: Estimated 2022 opening
$3,215 (estimated) Timeline: 2019-21 construction
SOURCES:SAMMOONGROUP,LIFETIME,EDI INTERNATIONAL, U.S.CENSUSBUREAU/COMMUNITY IMPACTNEWSPAPER
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Final build-out With just a few hundred home sites remaining, new residential development in The Woodlands is concentrated in several areas. CREEKSIDE PARK EAST SHORE Current home inventory: more than 300
IN THEWOODLANDS
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EAST SHORE
Expected residential lots in 2020: less than 100
L
CREEKSIDE PARK
Remaining lots: more than 300
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SOURCE:HOWARDHUGHESCORP./ COMMUNITY IMPACTNEWSPAPER
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