Developer Easterling Development of Houston bought the land from the Woodlands Operating Co., which used Eric Wojner, vice president of the commercial division, to broker the deal. He tells GlobeSt.com that the parcel originally was designated for multifamily development in the village's master plan.

The village started developing about five years ago. The 27,000-acre Woodlands' typical villages is designed to house 15,000 to 18,000 people, Wojner says. Alden Bridge has reached its final development stage.

The multifamily community, Whispering Pines Ranch, will go up directly across the street from the neighborhood's shopping center. Wojner says the location was intentional so that tenants would be within convenient walking distance of a shopping center. Once anchored by an Albertsons, the retail center's prime site has been bought by Kroger and could end up carrying the chain's Signature branding. The center also contains 70,000 sf of fully occupied retail space abutting the grocery store.

The complex will consist of 168 one-bedroom units, 108 two-bedroom units and 24 three-bedroom apartments in 12 three-story design buildings. Rent will range from $750 to $1,300 per month. Units will begin delivering by year's end.

Wojner says Easterling was chosen as the developer because it is a boutique developer. Easterling historically develops one project per year giving each project the same time and attention that the Woodlands would, he stresses.