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Cy-Fair Edition VOLUME 15, ISSUE 10 JULY 12AUG. 9, 2024
2024 Home Edition
Multifamily market momentum
Prose Longenbaugh is one of several new apartment complexes under construction near Cypress Springs High School in Cy-Fair. It will have an estimated 250 units.
DANICA LLOYDCOMMUNITY IMPACT Apartment complexes ll in gaps as Cy-Fair approaches build-out
than he has in his entire career. This spike can also be attributed to population growth and job growth, said Steve Spillette, president of real estate research and planning rm Community Development Strategies.
Real estate experts said developers and inves- tors began planning multifamily projects two or three years ago when interest rates were at record lows. Bruce McClenny, industry principal for MRI ApartmentData, said because of this trend, he saw more apartment complexes open in 2023 and 2024
BY DANICA LLOYD
Thousands of new multifamily housing units are coming to the Cy-Fair area with about 20 apartment complexes recently opened, under construction or planned for the region, according to commercial real estate rm Berkadia.
CONTINUED ON 16
Also in this issue
Impacts: The Wae Bus opening soon in Bridgeland (Page 6)
Education: Cy-Fair ISD board reviews library policy (Page 9)
Transportation: Harris County road project updates (Page 10)
Business: Mexican treats served at La Michoacana Auténtica (Page 19)
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HEAT AWARENESS & SAFETY TIPS -Drink plenty of fluids to stay hydrated. -Never leave people or pets in a closed car on a warm day. -Wear loose, lightweight, light-colored clothing. -Avoid high-energy activities or work outdoors, during midday heat, if possible. -Check on family members, seniors and neighbors. -Use fans to create cross-ventilation and enhance cooling with a bowl of ice.
For more heat tips visit www.cyfairfd.org
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CYFAIR EDITION
Impacts
• Opened April 30 • 13150 Breton Ridge St., Houston • www.derbyrestaurants.com/houston
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5 Reliant ABA Therapy Pediatric services include applied behavior analysis, speech, occupational and physical therapies. • Opened May 30 • 20328 Longenbaugh Drive, Cypress • www.reliantaba.com 6 3D’s Krazy Kitchen The menu features wings, daiquiris, ribs, pork chops, burgers, gumbo, fried chicken and more. • Opened in May • 7019 Barker Cypress Road, Cypress • www.3dswingsanddaiquiris.net 7 Harbor Freight Tools The retailer sells power tools and other equipment. • Opened June 8 8 Dollar General The store sells beauty products, food and home items. • Opened in May • 22505 Hwy. 249, Ste. 1, Houston • www.dollargeneral.com 9 Dental Care on Tuckerton Dentists oer emergency care and regular check-ups. • Opened June 28 • 20330 Tuckerton Road, Ste. 100, Cypress • www.dentalcareontuckerton.com • 17713 Hwy. 249, Houston • www.harborfreight.com
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N TM; © 2024 COMMUNITY IMPACT CO. ALL RIGHTS RESERVED.
• Opened in June • 8020 Fry Road, Cypress • www.halfbakedgoodness.com
Now open
1 Pizza Patron The pizzeria’s menu includes the Hawaiana, Patrona Supreme and Spinach Clasico, among others. • Opened June 3 • 15757 FM 529, Ste. C, Houston • www.pizzapatron.com 2 Half Baked Goodness Several classic cookie avors are on the permanent menu as well as specialty avors that rotate weekly.
3 Bi ’s Banh Mi & Pho The restaurant serves Vietnamese cuisine including spring rolls, sandwiches and soups. • Opened in June • 12105 Jones Road, Houston • www.biffspholife.com 4 Derby Houston Southern cuisine is now served at The Shop Club.
Coming soon
10 Salad and Go The drive-thru oers salads, wraps and breakfast items. • Opening in July
• 9410 Fry Road, Cypress • www.saladandgo.com
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COMMUNITYIMPACT.COM
BY COMMUNITY IMPACT STAFF
11 Towne Lake Market Caldwell Cos. is building an 18,000-square-foot shopping center in Towne Lake. • Opening TBD • 11321 Greenhouse Road, Cypress • www.townelaketexas.com 12 Piada Italian Street Food Customizable salads, tossed pastas and piadas—wraps made with atbread—are on the menu. • Opening TBD • 20711 Tuckerton Road, Cypress • www.mypiada.com 13 Cava The Mediterranean fast-casual restaurant chain oers build-your-own grain bowls, salads and pitas. • Opening this summer • 7017 Hwy. 6 N., Houston • www.cava.com
• Opening in 2025 • 16702 House & Hahl Road, Cypress • www.transwestern.com
Coming soon
Relocations
18 Strong Vision Center The vision center moved from 17445 Spring Cypress, Ste. G, Cypress, and oers family eye care services. • Relocated in April • 27220 Hwy. 290, Ste. A, Cypress • www.strongvisionctr.com 19 JD Cuts The local barber shop, owned by Jose Nambo, was formerly located at 9111 FM 1960, Houston. • Relocated June 1 20 The Jill Smith Team The local real estate agent team has relocated from 12254 Queenston Blvd., Ste. D, Houston. • Relocated in June • 12239 Queenston Blvd., Ste. E, Houston • www.jillsmithteam.com • 13237 West Road, Houston • www.facebook.com/jdcuts23
23 The Wae Bus Ocials with Howard Hughes Holdings Inc. announced May 28 popular food truck and eatery The Wae Bus would soon bring a brick-and- mortar location to Bridgeland’s Lakeland Village Center. Menu items include chicken sandwiches, burgers, fries, wings, and “Fryders”—sliders with seasoned wae fries for buns. Sweet wae sandwiches are also on the menu. • Opening this fall
14 Blaze Pizza The eatery oers pizzas, salads and desserts. • Opening in mid-July
• 10615 Fry Road, Cypress • www.thewafflebus.com
• 7710 Fry Road, Cypress • www.blazepizza.com
15 Wow Lash Studio The studio oers eyelash extensions, lash lifts, eyebrow waxing, tinting and lamination. • Opening in August • 20330 Tuckerton Road, Ste. 300, Cypress • www.facebook.com/wowlashstudiocypress 16 Dutch Bros The drive-thru chain oers drinks such as coee, smoothies, shakes, lemonade and hot cocoa.
In the news
Closings
21 Christ Covenant Church Renovations are set to be complete in early 2025. Sunday services will temporarily be held at the Langham Creek Family YMCA at 9 a.m. and 10:15 a.m. • 17000 Longenbaugh Drive, Houston • www.christcov.net 22 First Metropolitan Church The local church celebrated the grand opening of its new sanctuary in late June. • 8870 W. Sam Houston Parkway N., Houston • www.myªirstmet.com
24 Scooter’s Co ee The drive-thru franchise closed its Jersey Village location due to rising interest rates and costs of goods. • Closed June 1 • 8307 Jones Road, Jersey Village • www.scooterscoffee.com 25 Klaus Brewing Company The brewery specialized in German-style craft beers. • Closed June 16 • 10142 Jones Road, Houston • www.klausbrewing.com
• Opening in early 2025 • 9540 Fry Road, Cypress • www.dutchbros.com
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CYFAIR EDITION
Government
BY MELISSA ENAJE
Harris County revives nonviolent 911 program Harris County commissioners voted 4-1 on June 4, with Precinct 3 Commissioner Tom Ram- sey dissenting on all three votes, to continue and expand a countywide program that aims to use hospital-based interventions for nonemergency 911 calls instead of law enforcement. The details The Holistic Assistance Response Team pro- gram, referred to as HART, was created in March 2022 to improve community health and safety by providing responses to residents experiencing homelessness, behavioral health issues, or none- mergency health or social welfare concerns. HART dispatches 911 calls to interdisciplinary, unarmed rst responder teams trained in behav- ioral health and on-scene medical assistance. The program was paused in May after commis- sioners failed to reach an agreement on whether
$122M in upgrades planned for jails Harris County Commissioners approved on June 4 an estimated $122 million to address some of the most immediate needs through- out various Harris County jail facilities. Two county-appointed jail committees agree with the need to begin working on items expeditiously, including maintenance items related to re safety, plumbing, electrical, heating, ventilation and air conditioning systems. The impact Examples of high-cost priority items include: • More than $79 million for additional oors, renovations and upgrades to the facility at 701 N. San Jacinto St., Houston • More than $5 million for a re sprinkler system at 1200 Baker St., Houston
The Holistic Assistance Response Team connects underserved residents to services. People served by HART since 2022
Mental health/substance use
172
Housing/shelter
118
Food assistance
69
Other
60
SOURCE: HARRIS COUNTY PUBLIC HEALTHCOMMUNITY IMPACT
to pay Disaster Emergency Medical Assistance Consulting and Management, the vendor oversee- ing it. At the June meeting, commissioners also voted 4-1 to pay the vendor’s $200,000 invoice and improve the contract’s language to avoid further discrepancies. They also voted 4-1 on a seven-part plan to create an internal county system to oversee the HART program instead of contracting with an outside vendor.
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COMMUNITYIMPACT.COM
Education
BY DANICA LLOYD
Library policy revised Parents called for transparency as Cy-Fair ISD’s board discussed updating the district’s library materials policy in June. What’s changing? Under the revised policy, the board would have ultimate authority to approve books librarians want to add to their collections. CFISD General Counsel Marney Collins Sims said this language is consistent with the law. Proposed revisions also include listing books librarians want to purchase online for public review 30 days before acquisition. Five days before that posting, the board would get to preview those lists. Trustee Julie Hinaman requested several clarications. Sims said the board policy review committee will review her recom- mendations in July and consider incorporat- ing those clarications into the policy before nal approval in August.
Cy-Fair ISD trustees Natalie Blasingame, Christine Kalmbach and Julie Hinaman listen to speakers at the June 17 meeting.
DANICA LLOYDCOMMUNITY IMPACT
Teacher ghts science textbook censorship Alicia Royer, a science teacher at Cypress Falls High School for 30 years, led a formal complaint against the Cy-Fair ISD board for violating a policy that states the board should rely on district personnel to select instructional material. Trustee Natalie Blasingame requested the removal of 13 chapters from a list of 25 textbooks the board was tasked to approve May 6 due to
“controversial” topics in the content, such as climate change and vaccines. The measure passed in a 6-1 vote with minimal discussion. What happened At the June 17 board meeting, dozens of com- munity members urged the board to reinstate the approved textbook chapters. However, the board voted 6-1 again to uphold their original decision. In both votes, Trustee Julie Hinaman was the only one to vote against the measure. Despite censoring students’ textbooks, teachers will still cover concepts in the state’s curriculum standards, which students are tested on each year.
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CYFAIR EDITION
Transportation
BY DANICA LLOYD
3 Cypress North Houston Road widening Project: The two-lane roadway will be widened to a four-lane divided concrete boulevard from Jones Road to Perry Road. Update: This project is in the design phase. • Timeline: early 2026 bid • Cost: $16 million • Funding source: Harris County Precinct 3 4 Greenhouse Road tunnel under Hwy. 290 Project: Ocials will construct an underpass beneath Hwy. 290 from Mound Road to north of Hwy. 290, extending Greenhouse Road to Skinner Road. Update: This project is in the design phase. • Timeline: early 2026 bid • Cost: $45 million • Funding sources: local, state and federal
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Ongoing projects
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5 Greenhouse Road bridge over Cypress Creek Project: Harris County Precinct 3 is completing a four- lane boulevard section south of Mound Road. Update: This project is in the construction phase. • Timeline: irstquarter 2025 completion • Cost: $8.7 million • Funding source: Harris County Precinct 3 6 Mueschke Road widening Project: Mueschke Road is being widened from two to four lanes from Amira Drive to Draper Road for improved drainage. Update: The project is expected to nish construction this fall, according to an update from the infrastructure division of Harris County Precinct 4. The next phase of the project—from Draper Road to FM 2920—is in the design phase. • Timeline: set to be complete this fall • Cost: $7.75 million • Funding source: Harris County Precinct 4 mobility funds
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• Cost: $10.5 million (Phase 2), $6.5 million (Phase 3), $14 million (Phase 4) • Funding source: Harris County Precinct 3 2 North Eldridge Parkway widening Project: Harris County Precinct 3 will widen North Eldridge Parkway to a four-lane divided concrete boulevard from south of Pine Drive to south of Lakewood Meadow Drive. The project is located near Cypress Park and the conuence of Cypress Creek and Little Cypress Creek. Update: This project is in the design phase. • Timeline: late2025 bid • Cost: $5 million • Funding source: Harris County Precinct 3
Upcoming projects
1 Grant Road widening Project: Harris County Precinct 3 will widen Grant Road from a two-lane roadway to a four-lane divided concrete boulevard in phases: from A Spring Cypress Road to Shaw Road (Phase 2), from B Shaw Road to Telge Road (Phase 3), and from north of C Telge Road to Cypress Rosehill Road (Phase 4). Grant Road was widened from Lakewood Forest Drive to Louetta Road between 2017-2019. Update: This project is in the study phase and is expected to start going out to bid in 2026. • Timeline: early2026 bid (Phase 2), late 2026 bid (Phase 3), late 2027 bid (Phase 4)
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COMMUNITYIMPACT.COM
Real estate
BY COLBY FARR & CARSON WEAVER
Home Edition
2024
Readers, welcome to your annual CI Home Edition! This guide features news ranging from key real estate trends and new developments unique to your neighborhood to an overview of the housing industry across Texas. All of the stories were written by our team of local journalists, and all of the advertisements are from nearby businesses who support our mission to provide free, useful news—show them your gratitude by supporting local businesses. Our cover story this month gives you a snapshot of what’s going on in Cy-Fair’s multifamily housing sector. Through maps and charts, we break down where new apartment complexes are being built and how multifamily home construction will soon outpace single-family home construction locally. See Page 22 for all the details.
What's inside
Property value growth slows in Harris County (Page 17)
Danica Lloyd Senior Editor dlloyd@ communityimpact.com
Taylor Morrison progresses on new neighborhoods (Page 18)
Protecting property during hurricane season (Page 20)
Multiple Listing Service rules changing
Stay tuned
For real estate associations aliated with the NAR, the changes must be implemented in August, per a May 3 news release. After the policy changes take eect, a nal approval hearing for the settlement is scheduled for later in November.
A $418 million settlement with the National Association of Realtors in March may impact fees for buyers, sellers and real estate agents, starting in August. The settlement—brought on by class-action lawsuits alleging brokerages inated buyer- seller commissions—will force the NAR to make policy changes to Multiple Listing Services, online platforms where real estate agents list homes. “[The MLS] gives you all the details of the home—what year it was built, square footage, how many rooms, room sizes,” said Thomas Mouton, chair of the Houston Association of Realtors. According to the settlement, sellers will pay smaller commissions and buyers will decide how much their agents are paid, among other changes. “When an agent searches for a home for their client, [the MLS tells] you what the listing agent is actually oering for compensation,” Mouton said. “Now, that will not be displayed anywhere on the site.”
Updated MLS policies The changes outlined by the NAR settlement in March that go into eect in August include:
“Houston is going to be aected like everyone else because it’s a national settlement,” Mouton said. “We’re no dierent than any other state.”
Listing agents can no longer make compensation oers to buyer agents on the MLS.
MLS participants can’t lter or restrict listings to clients based on the level of compensation oered to the agent.
2024
March 15: Settlement agreement signed April 24: Preliminary approval of settlement review granted by the court Aug. 17: Practice changes take eect; earliest day for lawsuit notications to be issued to those impacted Nov. 26: Final approval hearing for the settlement
Compensation disclosures to sellers, and prospective sellers and buyers, are required.
MLS users must enter an agreement with buyers before home tours.
SOURCE: NATIONAL ASSOCIATION OF REALTORSCOMMUNITY IMPACT
SOURCE: NATIONAL ASSOCIATION OF REALTORSCOMMUNITY IMPACT
11
CYFAIR EDITION
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Real estate
BY MELISSA ENAJE CONTRIBUTIONS BY DANICA LLOYD
Property value growth slows
Harris County trends
Total single-family homes sold
Median price of homes sold
Months’ supply of homes
95,302
$338,000 $330,000
1.3
2022 2023
2022 2023
Jan. 2022 Jan. 2023 Jan. 2024
2.6
83,854
3.3
More Harris County homeowners saw drops or smaller increases in property values compared to the past two years, according to values determined by the Harris Central Appraisal District as of Jan. 1, 2024. HCAD ocials attributed the trend to increasing home inventories and fewer home sales. HCAD Chief Appraiser Roland Altinger said in a news release the Harris County housing market took a “breather this year” after several consecutive years of rapid appreciation. Sales slowed in 2023, and prices rose slightly because of higher interest rates and mortgage rates, which Altinger said allowed home inventory to inch upward. “This year we are seeing a return to the usual increases and decreases in property values instead of the extraordinary growth of the past two years,” Altinger said. Residential properties have gone up an average of about 2.5% in value countywide when comparing values from Jan. 1, 2024, with those from Jan. 1, 2023, Altinger said. In Cy-Fair, home values increased by 0.84% on average.
SOURCES: HARRIS CENTRAL APPRAISAL DISTRICT, HOUSTON ASSOCIATION OF REALTORSCOMMUNITY IMPACT
Average local market values on Jan. 1
Homes sold Jan. 1, 2023-Jan. 31, 2024
1 Far northwest
4 South of Hwy. 290
1
$386,942 $393,211
$345,694
2023 2024
2023 2024
+1.62%
+5.56%
249
$364,921
1,927
425
1960
290
2 Far west
5 Inside Beltway 8
$409,429
$263,509 $270,107
2023 2024
2023 2024
2
+2.38%
+2.5%
6
$419,181
5
2,698
308
529
3 Southwest
6 Outside Beltway 8
$283,524 $272,699
$310,890 $300,965
2023 2024
2023 2024
99 TOLL
-3.82%
-3.19%
6
4
3
N
1,185
413
SOURCE: HARRIS CENTRAL APPRAISAL DISTRICTCOMMUNITY IMPACT
Zooming in
What residents should know
What’s next
In addition to the slowdown in property value increases, one 2023 change in state law also lowered property tax rates for school districts. The changes came after Texas vot- ers approved Proposition 4 in the November 2023 election. Proposition 4 was placed on ballots fol- lowing the passage of Senate Bill 2, authored by State Sen. Paul Bettencourt, R Houston, during the 2023 Texas Legislature. The changes went into eect retroactively for 2023 tax bills, and Bettencourt’s o ce estimated the average Texas homeowner’s tax bill was lowered by $1,260 that year. Following the passage of Proposition 4: The state of Texas set aside $12.7B for school districts to allow them to lower tax rates by 10.7 cents per $100 of valuation. $5.6B went toward increasing the statewide homestead exemption from $40,000 to $100,000.
The deadline for homeowners to apply for property tax exemptions passed April 30. Meanwhile, the deadline to le a protest against a home value was May 15, or within 30 days of receiving a property value notice being mailed. However, county ocials said property owners should take note of several other upcoming dates related to when tax rates are set and when bills will be mailed out.
Data by price range Harris County homes in the lower price ranges were more likely to see value decreases when comparing Jan. 1 data to the previous year. 57.5% decreased in value 28.8% increased in value 13.6% saw minimal change in value For homes valued between $200,000-$299,999: 34.1% decreased in value 58.1% increased in value 7.8% saw minimal change in value For homes valued between $450,000-$749,999: 52.7% decreased in value 37.4% increased in value 9.9% saw minimal change in value For homes valued between $300,000-$449,999:
August-October: Local jurisdictions adopt tax rates October/November: Tax bills are mailed Dec. 31: Last day to pay to use a deduction for the same year’s federal income tax
21.1% decreased in value 73.4% increased in value 5.5% saw minimal change in value For homes valued over $750,000:
SOURCES: HARRIS COUNTY TAX ASSESSORCOLLECTOR & VOTER REGISTRARCOMMUNITY IMPACT
SOURCE: HARRIS CENTRAL APPRAISAL DISTRICTCOMMUNITY IMPACT
SOURCE: SENATE BILL 2COMMUNITY IMPACT
13
CYFAIR EDITION
Real estate
BY MELISSA ENAJE & CARSON WEAVER
Nearly half of the 539 homes sold in Cy-Fair this May were in the 77433 ZIP code. Overall home sales were down about 7% compared to May 2023 activity. Residential market data
Average price of single- family homes reaches all-time high in Houston The average price of single-family homes in Houston reached an all-time high of $443,970 in May, according to the May market update released June 12 from the Houston Association of Realtors. What they’re saying HAR Chair Thomas Mouton said in a news release the Houston housing market has demon- strated its adaptability “yet again.” “While the weather disruptions may have impacted some sales, there continued to be strong activity with a rise in available listings and persistent buyer interest,” Mouton said in a state- ment. “We are beginning to see a more balanced market pace, beneting both buyers with more options and sellers with sustained demand.”
Disaster exemption ling deadline nears Property owners who had physical damage to their property during the storms that swept through Harris County this spring have until Sept. 3 to apply for a temporary disaster exemption, according to a news release from the Harris Central Appraisal District. “While damage to a house or other struc- ture from a falling tree is eligible for exemp- tion under this particular law, damage that occurred only to trees or shrubbery caused by the disaster isn’t eligible,” HCAD Chief Appraiser Roland Altinger said in the release. Explained Texas Tax Code allows a qualied property that is at least 15% damaged by a disaster in a governor-declared disaster area to receive a temporary exemption of a portion of the appraised value of the property.
Number of homes sold
May 2023
May 2024
Houston trends
-13.6%
-21.88%
+15%
-19.5%
-27.66%
-7.96%
+2.69%
May’s average single-family home price of $443,970 topped the previous record of $438,350 from May 2022. The average home price is up 3.6% year over year.
The median home price increased 1.5% to $345,000 year over year.
77040
77064
77065
77070
77095
77429
77433
99 TOLL
77429
290
Active listings in the Houston area are up 46.8% since last May.
77070
1960
Median home sales price
77064
New listings in May saw a 21.6% increase from last May, up from 12,568 to 15,280.
May
2023
2024
77433
$301,250 $291,500 $349,950 $320,000 $340,000 $400,000 $454,000
$330,000 $295,000 $286,000 $316,000 $325,000 $397,200 $429,990
77040 77064 77065 77070 77095 77429 77433
249
529
77095
77065
77040
Sales of homes priced at $1 million or more increased by 9.6%.
N
Single-family home closings declined year over year, from 8,664 to 8,538.
MARKET DATA PROVIDED BY BOUTWELL PROPERTIES 17506 BOBCAT TRAIL, CYPRESS. 2813058533. OFFICETHEBOUTWELLTEAM.COM
SOURCE: HOUSTON ASSOCIATION OF REALTORSCOMMUNITY IMPACT
HUFFMEISTER 8945 Hwy 6 N (281) 859-5879 SPRING CYPRESS 22508 Hwy 249 (281) 379-7383
BARKER CYPRESS 17996 FM 529 (281) 656-4200 JONES ROAD 17414 NW Fwy (713) 983-8827
Multifamily market momentum From the cover
In a nutshell
A multifamily housing snapshot
Units opened in the last year Total units: 1,512
Units under construction Total units: 1,661
Units planned Total units: 1,812+*
*ONLY ABOUT HALF OF PLANNED COMPLEXES HAVE ESTIMATED UNIT COUNTS AT THIS TIME.
Most of Cy-Fair’s newest apartment complexes are coming to the 77433 ZIP code—south of Hwy. 290 between the Grand Parkway and Barker Cypress Road. Boutwell Properties, a local real estate company, reports half of Cy-Fair’s single-family home sales each month are in this ZIP code, which has the highest median household income in Cy-Fair at $134,390, according to the U.S. Census Bureau’s 2022 American Community Survey 5-year estimates. Allora Parkland and Alexan Cypress Creek opened in April with 378 and 351 units, respectively. ZRS Management oversees both properties o Fry Road in Cypress. Monthly rent at these properties ranges from $1,405-$2,195. The Houston Association of Realtors reported only 40% of Houston-area households could aord a median-priced single-family home in the rst quarter of this year. The median mortgage payment during that time was $2,340 including taxes and insurance—about 86% higher than the average base apartment rent in Cy-Fair, which is $1,260, according to MRI ApartmentData.
CYPRESS ROSEHILL RD.
350
SPRING CYPRESS RD.
150
290
1960
462
99 TOLL
249
TBD
TBD
300
TBD
292
378
351
S
350
250
180
240
TBD
TBD
300
529
330
370
T
382
6
N
SOURCE: BERKADIACOMMUNITY IMPACT
Bear Creek/Coppereld/ Faireld
Jersey Village/ Cypress
Willowbrook/ Champions/Ella
Houston metro area
Diving in deeper
Multifamily rental rates in Cy-Fair
Patrick Jankowski, chief economist and senior vice president of research for the Greater Houston Partnership, said in a May multifamily market update that Houston has shifted from a land- lord-friendly to a tenant-friendly market because: • Average multifamily occupancy is below 90%. • Rental rates have fallen over the last year. • Incentives, such as free rent, are prominent. • Developers continue to overbuild. Cy-Fair’s average multifamily occupancy rate dropped from 92.3% in the second quarter of 2022 to 87.5% this May, MRI ApartmentData reported. With 19,000 apartment units under construction in the Greater Houston area and another 33,000 planned as of June 1, Jankowski said supply greatly exceeds demand. “An industry rule of thumb holds that Houston absorbs one apartment unit for every six jobs created,” he said. “At the current pace of construc- tion, Houston will need to create roughly 114,000 jobs to absorb what’s currently under construc- tion. The partnership’s forecast calls for the region to create half that many jobs—57,000—this year.”
$1,405
$1,300 $1,400 $1,500
249
45
99 TOLL
290
$1,260
$1,242
$1,200
$1,100
$1,133
$1,000
610
$0
10
N
June
Jan.
Jan.
May
2022
2023
2024
The big picture
Average unit square footage
Multifamily occupancy rates in Cy-Fair
938
910 887 894
100%
92.1%
23,065 16,942 42,107 758,545 Total units operating
87.5%
90%
87.3%
80%
Total complexes operating
83%
84
70 165
3,194
70%
New, under construction and planned units
0%
4,075 544 812
80,655
June
Jan.
Jan.
May
2022
2023
2024
SOURCE: MRI APARTMENTDATACOMMUNITY IMPACT
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BY DANICA LLOYD CONTRIBUTIONS BY JOVANNA AGUILAR & CASSANDRA JENKINS
Taking a step back
What to expect
Demographic consulting rm Population and Survey Analysts predicts multifamily housing growth in Cy-Fair ISD’s boundaries will exceed single-family housing growth for the rst time in 2025-26. “As the district builds out … the number of multifamily units becomes a greater proportion of the … contribution to the
Because interest rates have basically doubled in the last few years, the cost of nancing new apartment projects is less sustainable for develop- ers today, McClenny said. “That causes a lot of problems for a lot of companies to have to ante up more capital to cover that,” he said. “The other thing that’s going on in Gulf Coast markets is insurance has really gone through the roof.” Apartment operators are paying more than double for insurance now than they were before the COVID-19 pandemic, according to RealPage, a property management software corporation. The national average insurance cost for apartment owners was $30 per unit per month in January 2019 and $70 per unit per month ve years later. RealPage reports Houston apartment owners pay an even higher premium due to the region’s recent history of inclement weather events at $128 per unit per month. That’s about $384,000 to insure a complex with 250 units annually.
housing stock because it can be inll on small parcels of land in an area that’s otherwise built out,” President Stacey Tepera said at an April CFISD board meeting. Another emerging trend is built-to-rent neighborhoods of single-family homes for rent. PASA projects 1,345 total built-to-rent units over the next decade.
Cy-Fair housing projections
Multifamily
Single-family
5,000 3,000 4,000 2,000 1,000 0
10-year breakdown
Multifamily units (52.4%): 18,438 Single-family units (40.7%): 14,326 Built-to-rent units (3.8%): 1,345 Age-restricted units (3.1%): 1,080 Total units: 35,189
SOURCE: POPULATION AND SURVEY ANALYSTSCOMMUNITY IMPACT
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Business
BY JOVANNA AGUILAR
Owner Jorge Padilla prepares an ice cream cone.
La Michoacana Auténtica has a variety of ice cream avors.
PHOTOS BY JOVANNA AGUILAR COMMUNITY IMPACT
La Michoacana Auténtica serves Mexican treats Originally from Michoacán, Mexico, husband and wife Jorge Padilla and Vanessa Padilla opened La Michoacana Auténtica on Jones Road to share a part of their culture with the community in 2019.
Must-try menu items Popular ice cream avors include cookies and cream; banana pudding; cheesecake; mango with chile; arroz con leche or rice and milk; pecan; and Gansito made from the popular Mexican snack, an articially avored strawberry and cream-lled cake with chocolate-avored coating. La Michoacana Auténtica also oers mangonadas made with fresh mangos and chamoy; Tosti elotes made with chips, nacho cheese, sour cream, cotija cheese and hot sauce; corn in a cup; and aguas frescas or Mexican fruit waters. Additionally, ice cream nachos are made with wa e chips, three scoops of ice cream, whipped cream, and chocolate and strawberry syrups.
Mangonadas are made with mangos, chamoy and Tajin.
After four years, the couple expanded the busi- ness with a second location in the Coppereld area due to the popularity of their ice cream. What’s special about it? La Michoacana Auténtica oers homemade fruit paletas, or popsicles with fresh fruit and ingredients imported from Mexico; and homemade ice cream and wa e cones. With 38-40 ice cream avors at a time depending on the season, La Michoacana Auténtica also oers lactose-free ice cream options, sherbet and sorbet.
BRIDGEDOWN DR.
A
B
CLOVER GARDEN DR.
6
CRESCENT MOON DR.
N
N
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