Multifamily deliveries and project starts are expected to taper off in Houston; however, the city's downtown should see the completion of nearly 5,200 units in the next 24 months. Eighteen projects that are currently underway or planned. Currently 10 multifamily projects, which total more than 2,700 units, are underway in downtown. All of these developments will be delivered between early 2016 and the second quarter of 2017. Andreas G. Karelias / Shutterstock.com Most of these projects are being built by developers that have recently constructed other multifamily developments in Houston. The majority of these developers are Houston-based firms or national developers with a local office. Project types range from high rise and mid-rise to podium/wrap developments. An additional eight downtown projects are slated for groundbreaking in the coming months, which indicates developers are confident in Houston's ability to absorb units in 2017, when most of these projects will r...
- A number of projects received tax credits via a city-sponsored initiative.
- Only one of the 18 downtown projects will feature for-sale units.
- Multifamily demand in Houston is expected to be outpaced by supply in the coming quarters.