Third Ward to be revamped as students gain interest in University of Houston

Two collegiate housing projects proposed, affordable homes being built nearby
  • One development will demolish existing homes to make way for parking.
  • Fountain Residential Partners is building its third student housing development for University of Houston students.
  • Homebuilder Epic Homes is focused on redeveloping the Third Ward.

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Near the northwest tip of the University of Houston a section of the city's Third Ward community is being redeveloped, with several student housing projects leading the way. These projects are likely to drive up nearby home values, which is good news for homeowners in a neighborhood where the common list price is below $150,000 and vacant lots are prevalent. On the flip side, increased values also likely equate to increased rents for both students and non-students leasing single-family homes in the vicinity. On Cullen Boulevard, adjacent to campus, Dallas-based Fountain Residential Partners will develop its third student housing community for university students. The latest project will feature 531 beds and bring Fountain's University of Houston bed count up to more than 1,300. Because the project will rest on seven acres, the developer was afforded the ability to include townhouse units as part of the development, which according to Fountain is "unique to this market."...