Springwoods Village CityPlaceThe Mark at Springwoods Village CityPlace located at 1600Springwoods Plaza Dr. features 268 units.

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HOUSTON—Martin Fein Interests has purchased 17.44 acres from CDCHouston to develop The Canopy at Springwoods Village, agarden-style multifamily property on Spring Stuebner Road close toInterstate 45. The new community will be Fein's third multifamilyproperty in Springwoods Village, a 2,000-acre sustainable mixed-usecommunity situated at the confluence of Interstate 45, the HardyToll Road and the Grand Parkway.

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The Mark at Springwoods Village CityPlace located at 1600Springwoods Plaza Dr. features 268 units in a six-story concreteand steel wrap, and The Belvedere in Springwoods Village located at2323 East Mossy Oaks Rd. features 342 units in a five-story woodframe wrap.

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"We're excited to be commencing construction on our thirdmultifamily development in Springwoods Village. The Canopyrepresents an alternative rental price point for the many corporateemployees living in and around Springwoods Village. We now have anapartment option for everyone from CEOs to entry-level employees,"said Rebecca Luks, vice president of development at Martin FeinInterests. "The live, work, play environment that CDC Houston, themaster developer of Springwoods Village, has created is an idealenvironment for our developments and our residents."

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The new class-A property will have a National Green BuildingStandard Silver designation and direct walking access to the futurePhase II of The Market at Springwoods Village, a Kroger-anchoredretail center. This center was recently recognized by theInternational Council of Shopping Centers with a Commendation forSustainability at the 2019 North America Design and DevelopmentAwards event.

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"Martin Fein's project will represent another important step toSpringwoods Village's becoming a complete community with a fullrange of commercial, residential and recreational offerings," saidWarren Wilson, senior vice president of CDC Houston.

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The Canopy will also feature bike trail access to SpringwoodsVillage's urban center, CityPlace, including shops, restaurants andentertainment options, such as the newly opened Star Cinema Grilland 24 Hour Fitness, and the Springwoods Village Nature Preserve aswell as all of the community's major employment centers–ExxonMobil,HP Inc., ABS, Southwestern Energy and the CHI St. Luke's medicalcampus.

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The two- and three- story apartment community designed bySteinberg Dickey Collaborative will feature 332 units with aselection of efficiency, one-, two- and three-bedroom apartmenthomes, and several one- and three- bedroom townhomes. The unitswill range in size from 552 square feet to 1,705 square feet. Thecommunity is expected to break ground this month with an estimatedcompletion in the fourth quarter of 2021.

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The common areas will offer a number of amenities including aclub area with billiard and ping pong tables, large flat screenTVs, a fitness center featuring cardio and weight trainingequipment, a separate yoga/training/spin studio, an adjoining kids'room and a fitness lounge. The club will also feature a golfsimulator room, a university-style library and a conference room,and a large outdoor covered patio. In addition, The Canopy willfeature a reflection garden with a public art sculpture, a canopyof trees and a pool with poolside cabanas all overlooking a1-1/2-acre lake surrounded by a walking/jogging trail.

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Interior amenities will include 9-foot ceilings, custom 42-inchcabinets, stainless steel appliances, full-size washers and dryers,and unlimited hot water with the TEAL boiler system.

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Springwoods Village is a 2,000-acre sustainable master-plannedcommunity coming to life in Spring, just south of the Woodlands and20 miles north of downtown Houston. The community is a new model ofsustainability and greener living for the Houston region,preserving its natural ecosystems, building energy smart homes andreducing car dependence by providing a walkable mix of retail,dining, offices and public amenities. In addition to corporatecampuses, there are several residential communities, aKroger-anchored retail center and 290 acres of green spaces.

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When completed, the sustainable residential and commercialcommunity will provide diverse housing options, civic facilities,outdoor recreation and the 60-acre CityPlace with office space,shopping, dining and lodging.

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"The Canopy is the first of several residential announcements weare anticipating in the coming months," Warren Wilson, SVP of CDCHouston, tells GlobeSt.com. "Following the tremendous success we'vehad attracting commercial uses to our community, our 2020 plansinclude acceleration of  residential developmentthroughout Springwoods Village."

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Houston's job growth has been so strong that developers areaccelerating construction to meet demand. This rise in job growthhas translated to 94,900 new residents moving to Houston during thepast year with deliveries of 11,600 units coming online in thefirst three quarters of 2019, already more than double of alldeliveries 2018, according to Berkadia's third quarter Houstonmultifamily report.

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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.