HOUSTON: Hot Submarket Tip
It's no secret that Houston multifamily is hot. But when you get off the plane to find your next development site, where should you look? Two submarkets, Midtown and The Woodlands, have the lion's share of today's development, ARA's Clark Dalton, David Marshall, Tim Dosch, and Tom Dosch say. They've handled nine new apartment development deals in the Midtown area in the last 15 months (including the submarket's soon-to-be first high-rise). It's gentrifying fast thanks to an influx of trendy restaurants.
David says Midtown's also benefiting from its position between two of the city's largest employment centers. The ARA gents have done 11 multifamily deals in The Woodlands in the last 18 months. Tom tells us their team recently closed on sites with TCR, Mill Creek, and Oden Hughes. Two more deals in that immediate area are set to close in coming months. Pictured: a 10-acre Woodlands deal ARA handled with Alliance Residential last September (well underway now).