HOUSTON – (Realty News Report) – Marvy Alan Finger, a Houston apartment developer who played a pivotal role in the revival of downtown residential life, has died at age 86.
A native Houstonian and a 1957 graduate of the University of Texas, Mr. Finger began his career with a small homebuilder and rose to become a prominent multifamily developer. As president and chief executive officer of The Finger Companies, he developed 93 multifamily projects totaling about 30,000 units across eight states during his long career.
His first development was on Chimney Rock Road, a property he owned for decades. Known for hands-on management, Mr. Finger made frequent, detailed site visits that became a hallmark of his leadership.
His most influential move was the decision to build a 37-story residential tower in downtown Houston, a project he began considering in 2005 after studying residential redevelopment in other cities. Although downtown apartment construction had been stagnant for years, he believed there was strong latent demand in Houston. When plans for Discovery Green park were under way, The Finger Companies acquired an adjacent block and opened One Park Place, a 350-unit tower, in 2009. The building also included the Phoenicia international grocery market and leased quickly. To Mr. Finger’s surprise, many early tenants did not own cars, an unusual pattern in Houston.
Other multifamily developers followed The Finger Companies into downtown, and the downtown residential population soon doubled, bringing vital activity to a central business district that previously emptied after office hours.
Mr. Finger expected excellence from his employees and maintained high standards, but he was also known for loyalty to his staff. In October 2021, The Finger Companies sold 20 garden-style and mid-rise properties for $2 billion to a venture led by Greystar. As part of the transaction, Mr. Finger insisted the buyer retain all on-site personnel, including maintenance staff, reflecting his commitment to employees who helped run his properties day to day.
Through the Marvy Finger Family Foundation, his philanthropy supported a scholarship program that has provided full scholarships for hundreds of low-income Houston high school graduates to attend technical college or pursue degrees.
Mr. Finger is survived by his wife, Elaine Willits Finger; his children; grandchildren; and a great-grandson. His daughter, Jill Jewett, and son, Edward Finger, will lead The Finger Companies going forward.
“For more than 60 years, The Finger Companies has maintained an unwavering commitment to developing and managing high-quality multifamily projects,” said Jill Jewett. “My brother Edward and I have been working alongside our father as business partners and officers of the company for many years. I will continue to oversee day-to-day operations following his passing. Edward and I, together with our executive management team, are committed to ensuring business continues as usual and that each property remains successful.”
Visitation will be held Tuesday evening at Geo. H. Lewis & Sons, 1010 Bering Drive.
A memorial service is scheduled for 11:30 a.m. Wednesday, Oct. 26, 2022, at Congregation Beth Israel on North Braeswood Boulevard, with Senior Rabbi David A. Lyon officiating.
Oct. 25, 2022 Realty News Report Copyright 2022