OHT Partners, a Texas development, construction and investment company, has broken ground on its 17th apartment community in the Greater Houston metro.
The project, located at 23615 Kingsland Blvd., west of Grand Parkway, is on 14.2 acres and is zoned to Katy High School. The new Katy apartments sit close to the Katy Mills Mall shopping center.
The apartment complex will offer 246 one-bedroom and 114 two-bedroom residences, ranging in size from 702 to 1,256 square feet. The community amenities include a pool with private cabanas and pavilion, co-working lounges, a clubroom kitchen, a fitness center, a pickleball court, and an artificial turf game lawn. Its completion is expected by mid-2027.
The area absorbed more than 18,000 upscale rental units over the past year, with average apartment rents around $1,760 per month in June.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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