Multifamily developer Fein has acquired 21.4 acres at 2002 Spring Stuebner Road in City Place, a development in north Houston. CDC Houston, the master developer of City Place, sold the property. Fein is planning to construct Echo Lake, a luxury, 326-unit garden-style property representing its fourth City Place apartment community, at the site.
Echo Lake is named for a 1.25-acre lake trail system that will be the focal point for the rental property. Designed by Steinberg Dickey Collaborative, the development will seek National Green Building Standard, or NGBS, Silver certification. Two- and three-story buildings will provide an array of studio and one-, two- and three-bedroom residences, which will extend from 556 to 1,824 square feet in size. One- to three-bedroom townhouses with garages will make up approximately 40 percent of the units.
Lifestyle center
Situated across the street from a new Bass Pro Shops destination retail superstore to debut this year, the new apartment community is adjacent to The Canopy, a 332-unit garden-style apartment community that Fein completed three years ago.
On the other side of the development site, a Kroger-anchored lifestyle center called The Market is being built. Future residents will enjoy direct pedestrian access to that commercial property. Echo Lake and a network of hiking and biking trails that will lead residents to the City Place nature preserve, and to a 60-acre urban core with additional dining and entertainment offerings. These include 24-hour Fitness Spring Energy and Star Cinema Grill, as well as a programmed central plaza and waterfront park. Major employers in this area include Hewlett Packard Enterprises, ExxonMobil, ABS, HP Inc., Southwestern Energy, St. Luke’s Health and Kelsey-Seybold.
In addition to The Canopy, Fein’s City Place developments include a 268-unit property called The Mark and The Belvedere, featuring a total of 342 apartment homes. This week, a Houston Market Report found Houston enjoyed positive rent growth in the fourth quarter of 2023.
