Hunington Ready to Build More Multifamily in Houston
- Jun 16, 2014
Houston—Hunington Residential Inc. has acquired nearly eight acres off the northwest corner of Barker Cypress and Park Row in Houston’s Energy Corridor. The company plans to develop 382 apartments and townhomes on the site.
The developer cites strong demand for residential options in the area as the impetus for the project. Currently the Energy Corridor—in the extreme western part of the city, centering roughly on the junction of I-10 and Texas 6 (the Katy Freeway and Addicks-Satsuma)—is home to about 300 multinationals occupying over 22 million square feet of office space. Another 5.4 million square feet is under construction in the area, with most of it already pre-leased.
“Along with my partner, Sandy P. Aron, we studied the Energy Corridor and determined that the explosive growth in apartments was mostly in the east and southeast part of the submarket, and now there needs to be some relief to that traffic and congestion,” Hunington Residential partner Kate Good tells MHN. “We decided the best opportunity would be in the west corridor on Park Row.”
The site, Good points out, is directly across from two hospitals, Texas Children’s and Methodist. “There’s a little development in this area, but it’s all been typical garden-style product,” she says. “We’re bringing in luxury wrap buildings and townhomes with extensive amenities.”
Groundbreaking for the Energy Corridor development is slated for the fall of 2014. Most recently, Hunington Residential developed Vargos on the Lake in Houston, a 276-unit apartment and townhome project on the former site of the Vargo’s Restaurant, which went bankrupt in the early 2010s.