What’s happening near our Cypress, TX multifamily/fourplex projects?
One of our favorite resources for news information on the Houston market, etc. is the Houston Business Journal. Recently, an article announced plans for a master-planned community of approximately 2.5k houses via a Houston-based developer.
Land Tejas Co. recently closed on 856 acres located just North of FM 529, West of Fry Road and East of the Grand Parkway in northwest Harris County. (Deal finalized on Sept 25th)
While the community doesn’t have a name yet, they plan on selling off lots to consumers by 2021. We can expect this to have a positive effect on our tenant pool because the added growth to the Cypress area will bring along with it, jobs and families that are priced out of these planned communities and therefore opt-in to renting out our units.
“Demand for homes in the Cypress area has been phenomenal,” James Henrie, COO of Land Tejas, said in a statement. “This will be our fourth master-planned development in the area, following the success of our Stone Gate, Canyon Lakes West and Miramesa communities.”
If you have any questions about how multifamily investments are playing out in Cypress in the last couple years and moving forward, feel free to contact us here.