Houston developer moves forward with Topaz Villas community

Despite oil prices slowing, Topaz Villas resumes development
  • Plans for Topaz Villas were announced in 2014 but immediately put on hold due to a slowing local economy.
  • The luxury apartments are priced between $900,000 and $1.5 million.
  • Construction is set to begin in August or September and completed in 13 months.

The drop in oil prices halted a lot of development in Houston, but one developer is looking optimistically to the future. The Topaz Villas will resume construction, according to developer Ron Lozoff.

Lozoff announced plans for Topaz Villas in 2014. Shortly thereafter, though, crude oil prices in the Lone Star State dropped from $100 per barrel to $30, essentially stopping most of its economic growth in it’s tracks.