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Upscale lagoon community expands with 200 new units in north Houston

Some 200 new units are coming to Balmoral.

Courtesy of Balmoral

As the Greater Houston area continues its residential real estate boom, one trend has emerged that shows no sign of slowing: build-to-rent homes. Recently, Houston ranked second in the U.S. for the number of built-to-rent homes (1,620), according to a report by RentCafe.

Capitalizing on that trend is Wan Bridge, a Texas-based builder and operator of up-market build-to-rent (BTR) communities, which has announced a pipeline of more than 1,000 BTR units across Texas, starting with the North Houston community Balmoral.

Wan Bridge’s 94-townhome lagoon community known as Clearwater at Balmoral will be the site of the expansion, under a partnership with developer Land Tejas. Some 200 additional lots will be added to the existing area.

These new three- and four-bedroom townhomes will range from 1,400 to 1,800 square feet, with some units boasting a view of the picturesque lagoon, per a press release. The units will feature 10-foot ceilings, open floor plans, oversized countertops, walk-in pantries and closets, and more.

This news comes after Wan Bridge team announced a multi-billion-dollar equity commitment late last year. Plans call for the initial 200 units at Balmoral, then an expansion of BTR units across the state, the company notes in press materials.

“The build-to-rent model of real estate has found a thriving home in Texas and we are eager to continue expanding our footprint across the Lone Star State, starting at Balmoral,” said Ting Qiao, CEO of Wan Bridge, in a statement. “Land Tejas’ endorsement and trust in our build-to-rent model demonstrates that our product has a place in master-planned communities, so together we can offer residents the best of our company’s signature products.”

trends

Record-breaking property

Ultra-luxurious Houston high-rise lists last penthouse for $14.5 million

A rendering of the exterior of the St Regis Residence in Houston

Rendering courtesy of Shimahara Visual

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A new Houston high-rise is issuing a final call for one of its most desirable units. The St. Regis Residences, Houston has one remaining penthouse available for $14.5 million.

A representative touts that the $3,100 per square foot price is a new record for Houston-area high-rises. It’s one of seven penthouses at the property that range in size from 4,500 to 6,500 square feet.

“The last available penthouse at The St. Regis Residences underscores the strength and maturity of Houston’s luxury market,” said Catherine Lee, president of Douglas Elliman Development Marketing, Texas, which is handling sales and marketing for the building. "Discerning buyers are consistently choosing standalone branded residences that deliver enduring quality, trusted service, and global brand recognition — all of which is evidenced by the premium price-per-square-foot. Opportunities of this caliber, particularly at this level of scarcity, are increasingly rare.”

A rendering of a penthouse at the St Regis Residence in Houston A rendering illustrates one of the building's penthouses.Rendering courtesy of Shimahara Visual

As CultureMap has previously reported, Houston-based commercial real estate firm Satya is building the 37-story, curvilinear tower. Set on a nearly four-acre property near Houston’s iconic Bayou Bend Collection (102 Asbury Street), the tower will offer 90 residences.

Buyers can select from various floor plans, including one-bedroom units. Pricing for these luxurious homes begins at $3 million, with residences starting on the 10th floor.

Residents will enjoy more than 40,000 square feet of amenities, including butler service, a lap pool, steam rooms, saunas, fitness studio, dedicated training space, a yoga and movement studio, and St. Regis-branded bicycles. A dedicated children’s activity center, gaming lounge, theater, and event space will offer entertainment for all ages, while the Cognac Bar and Astor Room on the 26th floor will provide a refined dining experience in homage to the St. Regis founding family.

Additional perks include co-working spaces, two guest suites, and full-building backup generators — an invaluable feature in Houston.

The project is expected to break ground this spring, with an expected completion of early 2029. So far, the building has more than $180 million in gross sales, according to press materials.

“The demand for this level of condominium in Houston continues to show the market is prime for a new paradigm of residential experience and the impeccable service of legendary hospitality that The St. Regis brand is known for,” said Sunny Bathija, owner and developer of The St. Regis Residences, Houston and CEO of Satya.

St. Regis Residences, Houston, is neither owned nor developed by Marriott International or Marriott, but rather SR Luxury Condominium, LTD. It has licensed the St. Regis marks from Marriott for the project.

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Brianna McClane contributed to this article.

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