standing apart

Houston booms with new apartment construction in 2020, report says

Houston comes in at No. 7 on a new list of most apartments completed during the first six months of 2020.

Photo courtesy of Caydon

The coronavirus pandemic has brought many activities to a unsettling halt. But it has failed to blunt Houston’s apartment construction boom.

New data from Yardi Matrix, a supplier of commercial real estate data and research, shows that Houston comes in at No. 7 for most apartments completed during the first six months of 2020, with 2,085 apartments built.

Houston also comes in third place for projected apartment completions in 2020 is the Houston metro area. Yardi Matrix foresees the Bayou City region welcoming 10,404 new apartments this year, up 2 percent from 2019.

Little surprise to those paying attention to Texas real estate: More apartments were completed in Austin during the first six months of 2020 than in any other U.S. city. In the first half of the year, construction of 3,827 apartments was finished within the city of Austin, according to Yardi Matrix.

Right behind Austin on that list is San Antonio, where 2,871 new apartments hit the market in the first half of this year. Dallas follows Houston at No. 8 with 1,869 units; behind Big D is Farmers Branch, No. 18 with 1,161 units.

“Around the U.S., we have seen a variety of states, counties, and cities choose to close nonessential businesses for ‘stay at home’ or ‘shelter in place’ orders. For the most part, construction activity has been included as an essential activity that can continue with business as usual during these orders,” Doug Ressler, manager of business intelligence at Yardi Matrix, says in a release.

“The popular Texas metropolitan area saw an increase of 62,000 residents from 2018 to 2019,” Yardi Matrix says. “In response to the high demand, Austin metro has been an active scene for new construction in the past five years, having completed over 50,000 new apartments since 2016.”

In the Yardi Matrix forecast, Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year — 19,318. This would be DFW’s third year in a row to lead all metro areas for annual apartment construction, with New York City claiming second place.

While that’s an impressive amount of apartments, this year’s anticipated final total for DFW would be down 29 percent versus last year, Yardi Matrix says.

Coming in at No. 19 for predicted apartment completions this year is the San Antonio area, with 4,595 new units on taps. However, that total would represent a 20 percent jump over last year, putting San Antonio in fourth place for the percentage increase from 2019 to 2020.

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Heights charm

Spacious Heights home with modern touches hits market for $1.9 million

TK Images for Martha Turner Sotheby's International Realty

1039 Harvard Street is a custom home in the center of the Heights. It's listed at $1.995 million.

In the heart of the Houston Heights is 1039 Harvard Street, a 4,300-plus-square-foot home that must be seen to be properly appreciated. It is listed by David Atkins of Martha Turner Sotheby's International Realty.

Photo by TK Images for Martha Turner Sotheby's International Realty

1039 Harvard Street is a custom home in the center of the Heights. It's listed at $1.995 million.

The home instantly fits within its surroundings, with spacious living areas and modern amenities that will appeal to many homebuyers. 1039 Harvard Street blends function with form, offering several gathering spaces, four oversized bedrooms, spa-like baths, and a stunning backyard pool.

The spacious master bedroom is a private oasis, with a framed separation prior to entering the sleeping area. It creates a space to enjoy morning coffee or a mid-day read while overlooking the pool. The Hunter Douglas Vignette Modern Roman shades add to the room’s calming feel. Its adjoining bathroom is like stepping into a spa, with a deep Jacuzzi tub that sits within an open shower area. Built-in dressers line the wardrobe closet, which offers plenty of storage space and a vanity.

An upstairs TV lounge is perfect for kids’ movie nights or an adult gathering. Meanwhile, a center corridor is lined with built-in bookshelves and a tech closet from which to run a modern home.The east-facing bedroom has a window seat for lounging, and its bathroom offers a frameless shower enclosure and quartz counters. The front bedroom has its own bath, and the two middle bedrooms have a shared, ensuite Hollywood bath. On the top floor, a game room offers another place for entertaining.

The home’s kitchen features a waterfall island as its centerpiece, complete with Asko dishwasher and deep sink. There’s a gas fireplace in the living room, and the open floor plan allows for plenty of space and natural light.

Outdoors at 1039 Harvard Street is just as impressive as the inside. Patios offer space for outdoor dining and entertaining, while the in-ground Platinum Pool is a great way to cool off in Houston’s heat.

Located in the center of the Heights, 1039 is close to Harvard Elementary School, as well as the neighborhood’s many amenities. This is truly a home that is move-in ready, and will make its owners want to stay a while.

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