HOUSTON--Cornerstone RPC Storage Development, a joint venture between real estate development firms Rosewood Property Co. and Cornerstone Development, has begun construction on phase one of its $75-million self-storage development plan.

The first phase of the firm's plan to build high-quality, multi-story and drive-up self-storage facilities in infill locations includes four projects in total, all of which are located in Texas markets.

"We are seeing an increasing demand for new self-storage development and have launched phase one of our development program to meet that market need. We are pleased to be under construction on these first projects and are aggressively pursuing additional self-storage development opportunities," Bill Flaherty, president of Rosewood Property Co., told GlobeSt.com.

Cornerstone RPC Storage Development plans to break ground within weeks on a 116,400-square-foot storage facility in Houston at 1200 Park Row Drive. The 832-unit center will offer 80 parking spaces and climate control in the majority of units.

Last week, the company broke ground on a Dallas project, a 94,475-square-foot, 656-unit, drive-up self-storage facility in the heart at 9485 LBJ Freeway.

The development company also closed on two additional properties in San Antonio this month with plans to develop more than 200,000 square feet of self-storage facilities. The first, located at 9652 Huebner Road, will be 103,575 square feet and be comprised of 731 units, 710 of which will be climate controlled. The second, located at 7413 N. Loop 1640 W., will be 98,625 square feet and offer 693 units, 644 of which will be climate controlled.

The new developments are branded and managed by Extra Space Storage.

In addition, Cornerstone says it is actively pursuing additional sites to build traditional drive-up and multi-story self-storage facilities in core metro markets including Dallas/Fort Worth, Austin, San Antonio, Houston and Denver.

Rosewood Property Company (RPC) is a subsidiary of The Rosewood Corp.