COVER STORY, NOVEMBER 2006

MULTIFAMILY FLOURISHES IN THE LONE STAR STATE
New multifamily developments provide necessary space for Texas’ booming growth.
Stephen O’Kane

Texas continues to see a large rise in population, and this growth is not being seen in just one area but throughout the entire Lone Star State. As a result, companies are developing and designing new multifamily projects to cater to the influx of new residents to the area.

Monterra

Monterra, a development of Hillwood in Fort Worth, Texas, will include a large recreation facility, swimming pools, abundant landscaping and play areas. Also included in the area is a 65-acre national preserve with walking trails and pastures of Buffalo and Longhorn cattle.

“It is the only multifamily project of its type in North Texas,” says David Pelletier, director of communications for Hillwood. “It is a rental community with the quality of a single-family home. The area is one of the fastest growing in the country in terms of population growth and AllianceTexas has added approximately 4,000 jobs in the past 2 years.”

Located on the southern gateway into AllianceTexas, which is approximately 15 miles northwest of Dallas/Fort Worth International Airport, Hillwood hopes to attract the employees currently working in the development. “Our target residents are the 24,000 employees of AllianceTexas,” says Pelletier. “Also targeted are families in transition who are new to the area, as well as service professionals who work out of their homes but want the convenience of a connected office with its own private entrance.”

Monterra will feature 1,000 units, with Phase I developing 288. One-, two- and three-bedroom residential spaces will be offered with the first units available next September. The property also will include a large recreation facility, swimming pools, abundant landscaping and play areas. Also included in the area is a 65-acre national preserve with walking trails and pastures of Buffalo and Longhorn cattle.

The location of the Monterra is the key. Being in close proximity to the office space of AllianceTexas, as well as to another mixed-use project of Hillwood, makes Monterra an attractive residential destination for those in the area. “Location was chosen because it close to Alliance Town Center, a larger mixed-use project that Hillwood is developing in AllianceTexas,” Pelletier says. “The 300-acre Alliance Town Center is just north of Monterra and initially is being developed with retail, including a J.C. Penney, Belk and Sam Moon stores as well as restaurants. “Eventually Alliance Town Center will also have residential and office uses.”

Hillwood is also planning a retail and office component to its new development, but square footage has yet to be decided. “Hillwood also wants to bring to the market high-quality apartment homes as well as combined apartment/office and apartment/ retail options,” says Pelletier.

“Hillwood has a proven track record for high-quality development. It is best known for its development of AllianceTexas as well as the Victory district and American Airlines Center near downtown Dallas. Hillwood has developed most products types including industrial, office, single-family communities, but Monterra is the company's first multifamily development.”

Womack & Hampton, an architectural firm based is Dallas, is serving as the project architect.

The House

The House, which is being developed as part of the master-planned Victory Park development located near Dallas’ central business district and west end, will be a 28-story high-rise situated on a 1.12-acre site featuring residential and retail components.

As with Monterra, Hillwood has chosen a convenient location to develop its project, which will offer upscale amenities and significant space for retail. “Located in the heart of Dallas, Victory Park is one of the country’s most significant and innovative master-planned urban developments,” says Stuart Rosenberg, who is with public relations  for Victory Park. “The project is creating a new urban environment with a collection of emerging and reputed retail, distinctive dining, modern office space, residential units, hotels and signature entertainment venues, including the American Airlines Center.”

The House will offer 150 luxury residences ranging in size from 1,000 to 8,700 square feet in one- to three-bedroom floor plans. On floors five through 24 will be 140 of the more traditional units while 10 one- and two-story penthouses will be located on floors 25 through 28. The units will feature three different interior finishes dubbed Classic, Culture and Nature. All of the units will feature wood floors in the living rooms and dining rooms as well as marble/limestone floors, countertops and walls in the bathrooms. Amenities include private street-level parking, an outdoor living area with a swimming pool, lounging and dining areas on the fifth floor, 24-hour concierge service, advanced security systems and valet parking. Also included in the plans for The House is 30,000 square feet of retail space.

According to John Hitchcox, chairman of YOO, one of the project architects for The House, “Victory Park is exactly the type of development we selectively choose with which to be associated. This project reaffirms our global commitment to being a part of major cosmopolitan cities and developing the finest properties that combine the best of amenities, location and cachet.” And that is exactly what Hillwood is attempting with this project.

In addition to YOO, other architects serving on this project are Elkus Manfredi, WDG and Philippe Starck. According to Jonas Woods, the president of Hillwood, “Philippe Starck and YOO bring an unparalleled track record of success to this new project.  Philippe Starck is known throughout the world for cutting-edge designs that reflect the sensibilities and sensitivities of a modern consumer. Starck and YOO bringing their award-winning concepts and execution to Victory Park underscores the level of elegance and sophistication that personify this exciting and energetic new urban community.”

The $110 million project, which is targeting urban-minded people of all ages, began construction this month with an expected completion date in fall of 2008.

Endeavour Parkside

Endeavour Parkside, a $70 million development of Endeavour Holdings, will offer 34 stories of one- to three-bedroom residential units that feature six floor plans ranging from 900 square feet to 3,000 square feet in Pasadena, Texas.

“There’s a strong demand for luxury waterfront living on Clear Lake” says Robin Parsley, president of Endeavour Holdings. “Endeavour Parkside will be constructed on the north shore of the lake. The region is known as Bay Area Houston and it is home to the NASA-Johnson Space Center and the third largest concentration of pleasure boats in the United States. The area is located midway between Houston and Galveston Island, making it an ideal vacation spot, and a great place to call home.” 

The $70 million project, named Endeavour Parkside, will offer 34 stories of one- to three-bedroom residential units featuring six floor plans ranging from 900 square feet to 3,000 square feet. The units will include amenities such as high-speed Internet access, granite countertops, double vanities, stainless steel appliances, gas fireplace, 12-foot ceilings, oversized glass-enclosed showers and views of Clear Lake.

“The region encompasses approximately 15 miles of Galveston Bay and 20 miles of tranquil Clear Lake,” Parsley says. “Houston’s ‘big city’ amenities, including the world-renowned Texas Medical Center, world-class performing arts, major sports facilities, and five-star restaurants, are just minutes away.”

Endeavour Holdings believes that the high demand for a project like this, along with the covenient location and high-end amenities, will make Endeavour Parkside a popular and successful place of residency for its target residents, which include professionals, empty nesters and corporate employees.

Building amenities will include a 24-hour fitness center, a rooftop lounge and terrace, a courtesy boat dock and an on-site concierge. Construction on the project is set to begin early next year and will be ready for move in approximately 14 months after groundbreaking.

INsite Architects is serving as the project architect.

©2006 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.