Impending Construction is Third Multifamily Property in Springwoods Village

HOUSTON—Martin Fein Interests has purchased 17.44 acres from CDC Houston to develop The Canopy at Springwoods Village, a garden-style multifamily property on Spring Stuebner Road close to Interstate 45. The new community will be Fein’s third multifamily property in Springwoods Village, a 2,000-acre sustainable mixed-use community situated at the confluence of Interstate 45, the Hardy Toll Road and the Grand Parkway.

The Mark at Springwoods Village CityPlace located at 1600 Springwoods Plaza Dr. features 268 units in a six-story concrete and steel wrap, and The Belvedere in Springwoods Village located at 2323 East Mossy Oaks Rd. features 342 units in a five-story wood frame wrap.

“We’re excited to be commencing construction on our third multifamily development in Springwoods Village. The Canopy represents an alternative rental price point for the many corporate employees living in and around Springwoods Village. We now have an apartment option for everyone from CEOs to entry-level employees,” said Rebecca Luks, vice president of development at Martin Fein Interests. “The live, work, play environment that CDC Houston, the master developer of Springwoods Village, has created is an ideal environment for our developments and our residents.”

The new class-A property will have a National Green Building Standard Silver designation and direct walking access to the future Phase II of The Market at Springwoods Village, a Kroger-anchored retail center. This center was recently recognized by the International Council of Shopping Centers with a Commendation for Sustainability at the 2019 North America Design and Development Awards event.

“Martin Fein’s project will represent another important step to Springwoods Village’s becoming a complete community with a full range of commercial, residential and recreational offerings,” said Warren Wilson, senior vice president of CDC Houston.

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

The two- and three- story apartment community designed by Steinberg Dickey Collaborative will feature 332 units with a selection of efficiency, one-, two- and three-bedroom apartment homes, and several one- and three- bedroom townhomes. The units will range in size from 552 square feet to 1,705 square feet. The community is expected to break ground this month with an estimated completion in the fourth quarter of 2021.

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

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

Springwoods Village is a 2,000-acre sustainable master-planned community coming to life in Spring, just south of the Woodlands and 20 miles north of downtown Houston. The community is a new model of sustainability and greener living for the Houston region, preserving its natural ecosystems, building energy smart homes and reducing car dependence by providing a walkable mix of retail, dining, offices and public amenities. In addition to corporate campuses, there are several residential communities, a Kroger-anchored retail center and 290 acres of green spaces.

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

“The Canopy is the first of several residential announcements we are anticipating in the coming months,” Warren Wilson, SVP of CDC Houston, tells GlobeSt.com. “Following the tremendous success we’ve had attracting commercial uses to our community, our 2020 plans include acceleration of  residential development throughout Springwoods Village.”

Houston’s job growth has been so strong that developers are accelerating construction to meet demand. This rise in job growth has translated to 94,900 new residents moving to Houston during the past year with deliveries of 11,600 units coming online in the first three quarters of 2019, already more than double of all deliveries 2018, according to Berkadia’s third quarter Houston multifamily report.