HOUSTON—Allied Realty has broken ground on The Retreat at Riverstone, a 249-unit apartment home community located in the heart of Sugar Land with a targeted opening of fall 2014. The Retreat at Riverstone is the first multifamily property under development in the Riverstone master planned community.
Developed by Allied Realty and designed by Wallace Garcia, The Retreat at Riverstone is located at 18545 University Blvd. in Sugar Land, close to local employment, housing and retail with easy freeway access. Floor plans range from one to three bedrooms, including townhome units exceeding 1,600 square feet with two-car, attached garages. Amenities include a state-of-the-art fitness center, cyber café with wi-fi, resort-style pool with beach entry, grill and recreation areas and two dog parks.
“We’ve seen phenomenal growth in Sugar Land,” Kirk Tate, partner with Allied Realty and CEO of Orion Real Estate Services, tells GlobeSt.com. “There is a limited amount of multifamily allowed in Sugar Land so there is pent-up demand. This will be one of very few apartment communities in Sugar Land and one of the only two in the Riverstone development.”
The property will be managed by Orion Real Estate Services, a division of Allied-Orion Group. Financing for the development was arranged by Capital One.