Kittle Property Group is planning its first senior living community in Houston.
The Indianapolis-based firm plans a $35 million project on an undeveloped tract at 6160 Madden Lane in Southeast Houston, according to a filing with the state of Texas.
The four-story project will include 283 units across 335,000 square feet. The estimated cost works out to $123,670 per unit.
Dubbed the Cordova Apartments, it will include a dog park and detached garages. Construction is expected to begin in August with a proposed completion date in the third quarter of 2026.
Attempts to reach Kittle Property were unsuccessful.
The firm forayed into the Texas Triangle a couple of years ago with the $31 million Northwind Apartments in Northeast Austin, about 2 miles from Samsung’s semiconductor facility. It also developed the income-restricted Vireo Apartments in Northeast Houston’s Greenwood Park.
Kittle Property expanded its operations in the Bayou City last year with the ongoing development of two apartment complexes, Juniper Landing and Summerdale. Juniper Landing, at 7720 Emmett F. Lowry Expressway, is expected to be completed by September, while Summerdale has an estimated completion date in October.
Those two projects were part of a $72 million investment in Houston’s multifamily market, which has remained one of the country’s most stable amid national rent decreases and construction constraints.
The city’s robust multifamily construction pipeline is likely to outpace demand, and apartment complexes are increasingly offering concessions to boost deflated occupancy.
Read more
Development
Houston
Kittle plans two complexes in Houston metro
Commercial
Texas
Houston’s multifamily market poised for most deliveries since 2017
Development
Texas
Ivy Lofts start at Lower Kirby in suburban Houston
Southeast Houston has one of the lightest multifamily construction pipelines in Greater Houston. Its submarkets represent 6 percent of the metro’s pipeline, with about 1,380 units under construction, compared to Greater Houston’s 21,860-unit pipeline, according to Berkadia.
Houston-based firm Sueba USA is one of the few developers bringing multifamily projects to the area, with the Ivy Lofts, at 1466 Ivy Park Terrace. That four-story complex has 335 apartments, plus 10,700 square feet of retail, and could be completed as soon as September, according to Berkadia.
Aria Developers’ 154-unit complex Aria at Almeda, 9815 Almeda Genoa Road near Hobby Airport, is also expected to be delivered in September.