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Urbannizer

Proposed apartments near Farmers Market, 700 W. Calvacade

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Urbannizer    33,406

https://www.bizjournals.com/houston/news/2018/03/07/exclusive-new-apartments-coming-near-houston.html

 



Dallas-based Lincoln Property Co. just bought a little more than 8 acres of land near the soon-to-be-reimagined Houston Farmers Market off Airline Drive for a new four-story, Class A apartment complex. 

 

Becky Hand and Tom Dosch with Houston's Dosch Marshall Real Estate brokered the deal. The land originally belonged to an unnamed out-of-town investor from Waco, Texas, and was sold for an undisclosed amount. This will be Lincoln Property's first multifamily project in about 30 years, they said. Requests for comment from Lincoln weren’t immediately returned. 
 

The apartment project will include about 300 units and will have surface parking rather than a parking garage, Dosch said, due to the larger 8-acre size. Dosch and Hand estimate it could be about 18 months before any units are available.

 

They received several offers from apartment developers, investors and townhome developers, Dosch said, all eager to embark on land they consider ripe for redevelopment.

 

“This is a unique opportunity to come into a market that’s changing very rapidly,” said Dosch, principal at Dosch Marshall

 

Located near the Heights, the area will likely start to see new residential and commercial projects crop up as the market’s new look is complete. The site is at 700 W. Cavalcade St., near the corner of West Cavalcade and Airline and about a mile southwest from the intersection between the 610 Loop and Interstate 45.

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andre154    252

"The apartment project will include about 300 units and will have surface parking rather than a parking garage"

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Sounds like a great idea to me!  It will be better than the tool/equipment business that is there now, and may actually wake up the shopping center to the East.

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Texasota    983

Apartments would definitely be great, but that description and the developer's website don't give me a lot of hope.

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I couldnt find the description on the developers website, the only thing i read is that it will be built as a Class A Multifamily. Their website is very robust and they certainly dont appear to be new to this space (multifamily). If this truly is their first foray into multifamily in over 30 years; i cant imagine they would build something understated. 

 

To NativeHoustons point, this will only help to improve the surrounding commercial businesses. 

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mkultra25    605

A 300-unit apartment complex springing up right next door to a post office that already has a line out the door half the time strongly suggests that a once-popular phrase that has fallen out of favor will soon be readopted by Generation Hashtag: "going postal". 

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Angostura    518

300 units means ~400 parking spaces. Not sure why you'd want to put a 400-space surface lot in this area.

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On 3/9/2018 at 11:09 AM, Angostura said:

300 units means ~400 parking spaces. Not sure why you'd want to put a 400-space surface lot in this area.

probably because they can fit it, and the land is cheaper than a parking garage...this is $30 psf dirt

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s3mh    261

Demo permit for the Equipment Depo building.  Property was purchased by a Lincoln Property Company entity, but I cannot find any other info.  My guess is multifamily given what is happening up the street on Airline.

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Houston19514    2,458
13 minutes ago, s3mh said:

Demo permit for the Equipment Depo building.  Property was purchased by a Lincoln Property Company entity, but I cannot find any other info.  My guess is multifamily given what is happening up the street on Airline.

 

From a month ago:

 

 

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