HOUSTON – (Realty News Report) – The Barvin organization is developing a 281-unit apartment community near the Texas Medical Center and the Astrodome.
The construction site is at the northwest corner of Knight Road and El Paseo Street, just south of Old Spanish Trail.
The area, north of Loop 610 and west of Highway 288, is primed for renewed development due to available vacant tracts and older commercial properties that have become outdated. More than 100,000 people work at the nearby Texas Medical Center, the largest medical complex in the world, which includes 21 hospitals, two specialty institutions, three medical schools and six nursing programs.
“Our investment in this area reflects our confidence in its continued growth. We believe this development will address an existing gap in the apartment market,” said Eric Barvin, president and CEO of Barvin, a Houston-based multifamily firm with properties in Houston, San Antonio and Atlanta.
Barvin said the project is being driven by momentum around the Medical Center and will serve employees and students connected to the upcoming TMC3 development—a 37-acre research campus that is planned to include approximately 1.5 million square feet of space. TMC3 represents a collaborative effort among the Medical Center, Baylor College of Medicine, Texas A&M University Health Science Center, University of Texas Health Science Center at Houston (UTHealth) and The University of Texas MD Anderson Cancer Center. For the first time, these institutions would build and share facilities at this scale. The campus will also support growth in engineering and medical programs, including the Texas A&M EnMed program, which launched its first class in 2019 and planned full enrollment by 2024.
An increase in students and research activity is expected to stimulate demand for multifamily housing in the Medical Center area, Barvin added. The University of Texas already maintains a significant inventory of student housing near the Barvin site.
Barvin’s project will be a wrap-style apartment complex designed by GFF Architecture, with Oden Hughes serving as general contractor. Construction is scheduled for completion in early 2022.
Barvin currently owns The Daphne Apartments on El Paseo, located close to the new development.
Oct. 14, 2020 Realty News Report. Copyright 2020.
Caption: Construction at the Texas Medical Center in Houston. Photo credit: Ralph Bivins, Realty News Report. Copyright 2020.
File: Medical Center Growth Attracts Multifamily Development
File: (2) TMC, Barvin, Oden Hughes, Knight Road, GFF. Medical Center Growth Attracts Multifamily Development. 10-14-2020