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Multifamily occupancy across the Houston region is 90.2 percent, ApartmentData.com said, a slight uptick over a year ago, and developers are actively building 68 complexes and 100 more are planned. New projects are going up near the city center and throughout the suburbs, where developers see opportunities in areas such as The Woodlands and Clear Lake.

Austin-based Oden Hughes and MXCAP recently broke ground on a 380-unit complex at the northeast corner of Bay Area Boulevard and Middlebrook Drive. The site is close to major employers including NASA-Johnson Space Center, Boeing Space Exploration, the University of Houston at Clear Lake and the Port of Houston Bayport Terminal.

“There’s a lot of demand for new apartments in this area but land use restrictions and a shortage of utility infrastructure make it challenging to build,” Tim Shaughnessy, vice president of development for Oden Hughes, said in a statement.

Rents for one-, two- and three-bedroom floor plans are expected to be between $1,100 and $2,300 per month.

Publication: Houston Chronicle

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