Multifamily Boom Coming for Houston Suburb of Spring

Multifamily flowers continue to bloom in Spring, as the northwest suburb is headed for a flurry of upcoming apartment construction.

More than a dozen apartment developments are planned near State Highway 99, also known as Grand Parkway. An additional 1,329 units were under construction last quarter, according to Transwestern. Spring and Tomball, which comprise a single Transwestern submarket, had the third-most apartments under construction in Greater Houston.

Northwest Houston Continues Domination With Boom of Multifamily Builds — New Construction & Proposed Multifamily Projects (Berkadia)

“That is where people want to live. So when you look at the majority of Houston’s new supply, especially in the suburbs, it’s west and northwest,” said Joey Rippel, managing director of investment sales at Berkadia’s Houston office. “That’s where we have the most amount of land, so there’s a lot more room to grow out there.”

Harris County’s population continues to move northwest, according to the Kinder Institute for Urban Research. This shift in population set the stage for an uptick in development along the parkway’s northern corridor, which feeds to Spring and Fairfield, into the Woodlands and through Montgomery County. Construction finished last year on a section of Grand Parkway that stretches from New Caney to Dayton, spurring development interest there.

Local developer Martin Fein Interests is building Springwoods Village, a 326-unit complex expected to be completed in the second quarter of 2024. It will join the 2,000-acre CityPlace master-planned community, in the Interstate 45 Corridor. CityPlace is a joint venture between CDC Houston, Patrinely Group, USAA Real Estate, Woodbine Development and DMB Development.

Other developments hitting the area include Mill Creek Residential’s 384-unit Modera Spring, at 2324 Louetta Road, as well as a 300-unit development GenCap Partners has in the works at Spring Stuebner Road and Holzwarth Road.

Miami-based developer Resia is hitting the area with two upcoming complexes, Cathedral Lakes North, at 725 Cathedral Shores Drive, and Cathedral Lakes South, at 611 Basilica Bay Drive. The dual Cathedral Lakes complexes will include a combined 1,066 units. Resia recently joined the Bayou City’s market in the first quarter with Ten Oaks, starting construction in January on a 573-unit complex targeting mid-income Houstonians.

The two Houston submarkets with more units in the pipeline than Spring are Bear Creek/Fairfield/Copperfield, with 1,800, and Katy/Waterside/Cinco Ranch with 3,000 units under construction.