Landmark JV to Begin Construction on BTR Project in Houston
The 194-unit community will be developed in partnership with Principal Real Estate Investors.
Landmark Properties and Principal Real Estate Investors are set to begin work this month on The Everstead at Windrose, a 194-unit single-family rental community in Spring, Texas. The joint venture landed a $37.8 million construction loan—set to mature in 2026—from Regions Bank, public records show. TSB Capital Advisors secured financing for the development.
Slated for completion in 2024, the built-to-rent community will encompass townhomes, single-family homes and cottage-style units with stainless steel appliances, washers and dryers, walk-in closets, as well as backyards with private patios. Common-area amenities will include a swimming pool, coffee bar, fitness center, grilling area, playground and dog park. The project includes sustainable features and is anticipated to receive the National Green Building Standard Bronze Certification. Landmark Construction is the general contractor for the development.
Located at 7801 Farm to Market 2920, The Everstead at Windrose is less than 7 miles west from Interstate 45, which will connect the property to Houston. Several retail options, including Walmart Supercenter, Target and Burlington, are within 2 miles of the development.
Landmark has more than 30 SFR projects in different stages of development, CEO Wes Rogers said in prepared remarks. The Everstead at Windrose marks the company’s second BTR development, following The Everstead at Madison, a 231-unit single-family rental project in Madison, Ala.