Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-A multifamily developer from Greenwood Village, CO has broken ground on the 336-unit Lighthouse at Willowbrook Mall, choosing Northwest Houston for its first project outside its home state. The $24.8-million development will deliver in spring 2006.

“We had been building in Denver, but with the economy and market so bad, it makes no sense to develop there now,” Randy Bryant, president of Catalina Development Co. tells GlobeSt.com. As a result, the company’s execs decided to test new markets. “I am from Houston so I know the market and feel comfortable with it,” he says.

The Lighthouse at Willowbrook Mall will be situated on 30 acres at 12330 N. Gessner Rd. The developer acquired the land in December 2004 from McAlister & Co. of Houston. The garden-style complex will consist of 14 buildings and a clubhouse. It will feature a mix of 204 one-bedroom units, ranging from 708 sf to 1,005 sf; 120 two-bedroom apartments, each 1,161 sf; and 12 three-bedroom designs of 1,360 sf. The monthly rent will average $1 per sf, Bryant says.

“The Lighthouse isn’t the typical garden-style complex,” Bryant says. “We wanted to build a property where people would be happy to live.” He adds the complex will be low density with just 14 units to an acre and feature a two-acre conservation area along with a lake and bridge.

The locally based Meeks Partners designed the development, which will be built by the developer’s in-house construction team. Guaranty Bank provided construction financing. Bryant says Catalina Development Co. is considering two more multifamily developments in the Houston market. “We’re looking, but you have to be careful where you build,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.