Morgan Group Brings On New VP of Development

HOUSTON-After a 2.5-year stint at Camden Property Trust, Carter Bechtol has moved to Morgan Group Inc. to pursue potential projects throughout Texas as vice president of development. Bechtol's major initiatives will involve urban infill sites for ground-up construction and redevelopment.

Although Bechtol will be looking at some areas in the Central US outside of Texas, he points out that Dallas/Fort Worth, Houston, San Antonio and Austin are ideal for what Morgan Group wants to accomplish. "What we like about all four markets is we've seen is high job growth, combined with in-migration from a population standpoint," he says. "These are also markets we've built in and have a good understanding of."

Bechtol currently is overseeing construction of an apartment complex on 16 acres in the mixed-use Lakes at Tech Ridge, situated at the crossroads of Interstate 35 and Howard Lane in Austin. He's also overseeing Greenway Commons, a 256,700-sf shopping center being developed in partnership with Trammell Crow Co. at the Wesleyan Road-Richmond Avenue intersection in Houston. In addition, Morgan Group has acquired an older apartment complex at San Felipe Street and Mid Lane. Bechtol says redevelopment on the project could start by the end of this year.

"We're an opportunistic developer and our focus right now is getting our arms around what we currently have," Bechtol adds. "We don't have specific goals in terms of asset allocation, but we definitely want to continue increasing the pipeline." He is replacing former vice president of development Carleton Riser.

In addition to his stint as vice president with locally based Camden, where he oversaw multifamily asset acquisition, disposition and development, Bechtol developed and acquired multifamily assets for Lincoln Property Co. in Dallas and provided investment advisory services for Apartment Realty Advisors. Calls to Camden were not returned by press time.