McGRATH REAL ESTATE PARTNERS Announces 9.16-Acre Land Acquisition for Future Inner Loop, Class A 400-Unit Multifamily Development
McGRATH REAL ESTATE PARTNERS to develop a 400-unit multifamily development
HOUSTON, July 2, 2022 (Newswire.com) - McGrath Real Estate Partners, a Houston-based leader in student and multifamily development, has announced the acquisition of 9.16 acres at 3939 W. 12th Street in Houston, Texas. The well-known Houston based developer plans to develop a Class A multi-family development.
The primely located development, known as Artistry Design District, will sit at the southeast corner of Loop 610 frontage road and West 12th Street. "We are excited to be a part of this fast changing and vibrant area of Houston with plans to break ground by October 2022," according to Barrett Kirk, Chief Investment Officer at McGrath Real Estate Partners.
The 400-unit multifamily housing development will feature seven unique floor plans configured in efficiency, one- and two-bedroom units. Units will range in size from 496 SF to 1,283 SF and will feature the best modern finishes such as hard-surfaced counter tops, stainless steel appliances and full-size washer and dryers.
Besides expected community amenities such as a resort style pool, poolside cabanas and fitness facility, the centerpiece of the development is an outdoor amphitheater and green space that will be used to host private concerts and resident events.
About McGrath Real Estate
For more than 36 years, the professionals at The McGrath Companies have produced quality developments for its principals, clients, and investors. They have acquired, developed, managed, and leased over $2.5 billion in multi-sector assets in markets across the U.S.
They handle all phases of the complex development process from site selection and governmental approvals to financing, construction and development oversight. They also provide effective oversight of leasing programs, property and asset management services for Multi-family, Student Housing, Build-to-Rent Residential, Single Family Master Plan and Lot Development communities. Their working relationships with national, regional, and local teams have helped build a portfolio of over $500,000,000 currently in design/development for the McGrath team. For more information, please visit www.mcgrathrep.com.
Barrett O. Kirk
Chief Investment Officer, McGrath Real Estate Partners
Source: McGrath Real Estate Partners