Lake Houston area: Martin Fein to Develop 300 Units

Martin Fein

In Houston, Martin Fein Interests of Houston has purchased 18 acres near West Lake Houston Parkway in northeast Houston for a multifamily development.

Fein, a veteran in the multifamily industry, will develop a 300-unit garden-style apartment project on the site, which is across the street from The Groves, a new 1,000-acre large-scale planned community by Crescent Communities of Charlotte, N.C.

The Garrett Cos., a multifamily developer based in Indianapolis, also has a new apartment project on West Lake Houston Parkway.

The Lake Houston area has the advantage of being an easy commute to the rapidly growing industrial areas on the east side, says CBRE’s Hal Holliday, who has arranged financing for thousands of multifamily units over the years.