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Houston

More massive multifamily projects headed for Houston

Two new luxury developments will cost $24.6M and $61M, respectively

Allen Harrison Company's Will Harper and Paul Forbes (Allen Harrison Company, Getty)
Allen Harrison Company's Will Harper and Paul Forbes (Allen Harrison Company, Getty)

Houston’s luxury apartment building spree continues apace, with plans for two new multimillion-dollar multifamily developments recently filed with the state.

Over the past decade, the Bayou City has built the most luxury apartments of any large U.S. city and that trend is happening all over Greater Houston.

On the heels of Tramell Crow’s High Street Residential announcing a joint venture with Japan’s Daiwa House Group to build luxury apartments in the North Houston suburb of Kingwood, two Houston-based multifamily developers are planning to roll out luxury apartment projects with a total estimated construction cost of $85.6 million.

Resolution Companies started construction in January on The Fordham at Harmony in Spring, located at 3640 Harmony Commons Drive, 2022. The 166-unit, 212,500 square foot development will cost an estimated $24.6 million and is expected to be completed by November 2023, according to records from Texas Department of Licensing and Regulation.

The owner of the project is listed as The Fordham at Harmony, L.P and the point of contact is Carrie Compton, a project manager at Resolution Companies, a Houston-based firm headed by her father Steve Ford, a longtime Houston multifamily developer. Compton did not return a request for comment on the project.

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In Fort Bend County, the $61 million, 584,240 square-foot Circle Oak Apartments, located at Hwy 762 and Manford Boulevard in the Houston suburb of Richmond is expected to begin construction in November this year.

The development will feature twelve three-story multifamily buildings, a clubhouse and a pool, as well as carports and detached garages. Circle Oak is expected to be completed by June 2024, according to state records.

The owner of Circle Oak is listed as Allen Harrison Company, headed by Paul Forbes and Will Harper who both previously worked at The Hanover Company, a Houston-based upscale multifamily developer with projects all over the country.

Representatives from Allen Harrison did not return a request for comment about the development.

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Commercial Real EstateLuxury