Tradewinds at Willowbrook is located close to the Vintage Parkmaster-planned community.
HOUSTON—As a whole, the Houston market has recorded strongabsorption and limited new multifamily supply during the last fewyears, combined with significant job growth. Total nonfarmemployment in the Houston-The Woodlands-Sugar Land MetropolitanStatistical Area stood at 3.15 million in April 2019, up 86,200 or2.8% from one year earlier, the US Bureau of Labor Statisticsreported in April. Among the 12 largest metropolitan areas in thecountry, Houston ranked third in both the number of jobs addedduring the year and the annual rate of job growth, noted Stanley W.Suchman, assistant commissioner for regional operations.
With all of this said, the continued demand for housing isapparent, especially given the rate of single-family home priceincreases. A recent example of investor demand for multifamily product is the sale of the Tradewinds atWillowbrook, a 374-unit multifamily property located in northwestHouston.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
