The 256-unit phase one and the 15-acre tract for the second development stage was purchased in January from Gables Residential of Boca Raton, FL. It was the Phoenix-based Alliance's first acquisition in Texas.

John Rippel, Alliance's managing director of development in the Central US region, tells GlobeSt.com that Sugar Land was selected for the Texas inroad because it is "one of the strongest multifamily markets in the Houston area due to supply constraints and rapid growth." The region's number of master-planned communities with deed restrictions and municipalities with strict zoning keeps the amount of inventory in balance, he explains of the entry barriers.

The Broadstone expansion will deliver in October. It will consist of 12 two- and three-story buildings with attached garages. The average unit size will be just under 1,000 sf, with rent falling between $1.07 per sf and $1.08 per sf. Rippel says the first phase, which brings $1.05 per sf, is designed with an average unit size of 900 sf. The Broadstone, built in 1998, has an occupancy in the mid-90% range.

The expansion will bring extra amenities to the development, including a clubhouse, theater, activity room, gym, swimming pool, playground and water park. The development also is being outfitted with card-access entry gates. The idea is to incorporate amenities aimed at a family-oriented tenant base, according to Rippel.

The architect is Steinberg Collaborative of Houston. Alliance Residential Builders is the general contractor.

The Phoenix-based parent company, Alliance Residential, manages more than 25,000 apartments for third parties in California, Arizona, Oregon, Nevada, New Mexico, Texas, Utah and Washington.