Sueba Building 346-Unit Missouri City Apartment Community

Sueba Building 346-Unit Missouri City Apartment Community
News| June 10, 2025| Mike Boyd
Texas + Apartment Buildings

Sueba Construction broke ground on a 346-unit apartment project in Missouri City. The venture will be part of Fort Bend Town Center III.

Sueba designed the complex and is handling the construction in-house. The Houston Business Journal reports Sueba closed a construction loan with First Horizon Bank in late April. Construction is expected to be completed by fall 2026.

The units will range from 496 to 2,088 square feet and offer studio to three-bedroom floorplans. Planned amenities include a leisure and lap pool with in-water loungers and cabanas; poolside verandas with outdoor lounge seating, grilling stations and a fitness center.

Fort Bend Town Center III is located on the southeastern corner of the highway intersection. It follows the completion of the 160,959-square-foot, Kroger-anchored first phase on the southwestern corner and the Cinemark-anchored, 315,084-square-foot Phase 2 on the northwestern corner.

Other News

Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap

Apartment Buildings

Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...

Learn more

Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap

Apartment Buildings

An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...

Learn more

Revere, MA Weighs 1,700-Unit Housing Project

Boston & New England + Apartment Buildings

The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up