| Dec 08, 2014
December 8, 2014
Fein, the developer of the first apartments in Springwoods Village, has purchased a second site in the master-planned community north of Houston for the development of The Mark at CityPlace Springwoods Village.
The Houston-based apartment developer and manager has purchased 3.75 acres at the southeast corner of Springwoods Village Parkway and Lake Plaza Drive from CDC Houston. The property will be part of CityPlace, a 60-acre urban district within the 2,000-acre Springwoods Village community, which is home to new corporate campuses for ExxonMobil and Southwestern Energy.
The Mark at CityPlace Springwoods Village will contain 268 units with spaces for restaurants and retail stores on the first floor along the Lake Plaza Drive. Residents will be able to walk to additional retail, dining and recreational facilities, and area office buildings.
The six-story property will offer efficiency and one-, two- and three-bedroom plans with sizes from 572 square feet to 1,599 square feet. Some units will overlook the CityPlace lake and park system. Rental rates have not been set, according to Rebecca Luks of Fein.
WGW Architects designed the project, which is expected to break ground by mid-2015. Completion is anticipated in the third quarter of 2017. The property is designed to achieve LEED Silver certification.
Among the common area amenities are a gourmet demonstration kitchen with a dining and entertaining area; a university-style library with free WIFI, charging stations and adjoining conference rooms; a club area with billiard tables and flat screen televisions; a fitness center with cardio and weight training equipment and separate yoga and spinning studios; and a spa and relaxation retreat with private treatment rooms. Other amenities consist of an outdoor sundeck with a resort style pool, a lap pool, an outdoor kitchen and poolside cabanas.
Inside, the units will have 10-foot ceilings and premium finishes such as wood flooring, stone countertops with tile backsplashes, 42-inch cabinets, under-cabinet lighting, stainless steel appliances, full-size washers and dryers, and energy-efficient features.
Fein developed the Belvedere in Springwoods Village where 100 units have been leased so far. The Belvedere, which opened in May, contains 342 units at 2323 E. Mossy Oaks Road.
Rents at the Belvedere average $1.87 per square foot or $1,769 per month for an average size unit containing 946 square feet, according to Fein. The units range in size from a 539-square-foot efficiency to a three-bedroom unit with 1,493 square feet.
CityPlace in Springwoods Village is also planned to contain four million square feet of office space with retail space on the ground floor and a full-service luxury hotel.
Started by Martin Fein in 1989, Fein has developed approximately 12,000 luxury apartments in areas such as Houston, Denver, Raleigh, Austin, San Antonio and Tucson, Ariz.
CDC Houston, a subsidiary of Coventry Development Corp., is developing Springwoods Village. Single-family homes are available in the neighborhoods of Audubon Grove and Harper Woods. Among the other developments in the community are a CHI St. Luke’s medical campus; a joint fire and EMS station; and a Marriott Residence Inn hotel.
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