Houston to Provide New Apartments for Seniors, Youths

By Georgiana Mihaila, Associate Editor

Both Bridgewood Property Co. and Judwin Realty Group L.L.C. have recently broken ground on major Houston-area apartment complexes, although they are targeting completely different markets.

Bridgewood is building a seniors apartment complex, the third such project in the Houston area. It is working in joint venture with Harrison Street Real Estate Capital L.L.C. The Village of Meyerland complex is to take the place of the half-century-old Rutledge Apartments at 4141 N. Braeswood. According to the project’s designers—Three Architecture—and the construction company—Construction Supervisor Inc.—the Village of Meyerland is to consist of 95 assisted-living units, to which 25 additional memory-care units will be added. The apartments will include one bedrooms, two bedrooms and studios, and will be served by a dining room, living room, library, bridge room, theater and fitness center.

Bridgewood founder & president Jim Gray, also responsible for the Village of The Woodlands and the Village Park of Tanglewood, expects to have the project completed by August 2012.

Judwin Realty Group L.L.C., the Houston-based developer that has so far contributed to the construction of more than 13,000 apartments in Texas and Georgia, has also recently broken ground on its 316-unit apartment complex in Katy, the Park at Cinco Ranch. The gated complex is also slated for opening in 2012, with rental rates ranging from $700 to $1,900.

The Park at Cinco Ranch is located at Cinco Terrace Drive and Highway 1093, and its 316 apartments will vary in size from 516 to 1,349 square feet. They will all be equipped with custom cabinets and granite countertops, and the property will include a 10,000-square-foot community center, a game room with billiards table and big-screen TV, a half-court basketball gym and a covered outdoor pavilion with barbecue grills.