Before the early 2000s, Washington Avenue was home to a busy distribution hub—a reliable workhorse in Houston’s economy, a place where things passed through.
Today, it is an established Inner Loop destination that is attracting yet another wave of development—this one bringing over 3,500 apartment units and hundreds of thousands of square feet of retail and mixed-use developments in the next two years…
..Twelve multifamily developments are coming to the corridor in the next year to two years, according to projections by ApartmentData.com, slated to bring over 3,500 additional units of housing to the more than 10,000 units already in the area.
“There are a lot of deals coming into the area, and rightly so. It needs a lot of housing, and so this is part of the equation to deliver that. People want to live in these cool places,” said Bruce McClenny, president of ApartmentData.com.
Driving part of the interest, aside from emerging destinations like the Arts District and more retail options, is that developers can pick up larger tracts of former warehouse space and turn them into significant projects.
“They just need to find parcels of land that won’t blow the deal on costs but will give them enough units to make it profitable,” McClenny said.
Publication: Community Impact Inner Loop Houston