HOUSTON — (Realty News Report) — Venterra Realty has begun construction on two new buildings that will add 48 apartment homes to its Silverbrooke community in Stafford, on Houston’s southwest side.
Silverbrooke is a Class A, garden-style property originally built in 2007 with 312 units. Located at 1020 Brand Lane in Stafford, the community sits roughly two miles from Highway 59 and about 20 miles southwest of downtown Houston.
The expansion will add 48 apartments in one- and two-bedroom layouts, along with a one-bedroom unit that includes a dedicated office. Apartment sizes will range from approximately 750 to 1,113 square feet, with rents starting from $1,240 to $1,620 per month.
Construction began in January on a four-acre site between Silverbrooke and its neighboring property, Shadowbrooke. Because the land for the project is already part of Venterra’s holdings, the company avoided an acquisition and can offer investors attractive returns with lower risk. The new buildings are designed to match the existing community architecture, preserving a consistent look and feel across the property. The onsite management team is currently pre-leasing units, with completion scheduled for January 2021.
“This construction project demonstrates Venterra’s ability to apply market knowledge and capitalize on opportunities that strengthen the organization, deliver stable returns, and support economic growth,” said John Foresi, CEO of Venterra Realty.
Each new apartment will include stainless steel appliances, quartz countertops, wood-plank vinyl flooring, and oversized closets. First-floor units will also offer fenced yards.
“Our Development Division works hand in hand with our Property Operations teams to plan apartments that meet the needs of today’s renters,” added Andrew Stewart, Chairman of Venterra Realty.
Founded in 2001, Venterra Realty owns and manages 60 apartment communities across 11 major U.S. cities, providing housing for more than 32,000 residents and 11,000 pets. The company has completed over $6.2 billion in real estate transactions and currently manages a multifamily portfolio valued at more than $2.8 billion, generating gross annual income in excess of $260 million.
Nov. 21, 2020 — Realty News Report. Copyright 2020.
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