HOUSTON – Fein, a Houston-based multifamily developer, has broken ground on The Pavilion at The Groves Apartment Homes, a 318-unit community on Houston’s northeast side in the Humble area.
This new development is located within The Groves, a 1,000-acre master-planned community about 1.5 miles north of Beltway 8 between Woodland Hills Drive and West Lake Houston Parkway.
Fein purchased 20.2 acres from Ashlar Development for the project. The site is near the intersection of Madera Run Parkway and Woodland Hills Drive, positioning the development conveniently for residents commuting to nearby employment centers.
Steinberg Dickey Collaborative served as the architect and Moore Design Group of Dallas provided interior design. Westchase Construction Ltd., an affiliate of Martin Fein Interests, Ltd., will act as general contractor for the project.
Nationwide Insurance is providing equity financing for the development, while Frost Bank is providing construction financing. The equity was arranged by Hal Holliday of CBRE.
The Class A community will pursue a National Green Building Standard Silver designation and offer residents direct access to The Groves’ extensive hike-and-bike trail network.
The Pavilion is located roughly two miles north of Generation Park, a large mixed-use development by McCord Development, giving residents proximity to expanding commercial and employment nodes.
Fein reported the multifamily project was scheduled to break ground in May 2020 with completion targeted for the first quarter of 2022.
The upscale, two- and three-story community will include efficiency units and one-, two- and three-bedroom apartments, plus several three-bedroom townhomes. Unit sizes will range from approximately 556 to 1,734 square feet, accommodating a variety of household sizes and lifestyle needs.
Founded in 1989, Martin Fein Interests, Ltd. has developed roughly 13,000 apartment homes across Houston and in markets throughout the Southwest and Southeast, including Denver, Raleigh, Austin, San Antonio and Tucson.
Recently, Fein sold The Belvedere Springwoods Village, a 342-unit mid-rise built in 2014, to MLG Capital, a Wisconsin-based real estate investment firm.
May 12, 2020 Realty News Report Copyright 2020
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