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Apartments Abound: Apartments keep going up as area continues to grow
  
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By JENNIFER SUMMER
A trend seems to be sweeping through the community: Prospective homeowners have started to rent instead of financing or mortgaging a home, causing a great demand in new apartment complexes.
Apartments have plenty of amenities and options, allowing for no-strings-attached living, making renting more convenient and easier during this economic slump.
Apartment complexes are constantly popping up on major thoroughfares and side streets throughout the community, offering residents an option of where to live.
South-end growth
Traveling along FM 1960 from the Humble city limits to the Huffman city limits, the sides of the roadway are dotted with numerous apartment complexes as well as on Atascocita Road and Beltway 8 near the Fall Creek and Summerwood subdivisions.
The growth in the south end of the Humble Independent School District has caused some concern about the amount of new students coming to the district every year.
There are 40 different apartment complexes zoned to schools within Humble ISD and there are many more complexes being built to accommodate the growth.
With more apartment complexes being constructed on the south end of the district, more students who reside in the complexes will fill the schools on this particular side.
“Despite the economic downtorn, the growth in our district, partciularly along the Beltway seems to be fast and furious,” Humble ISD Superintendent Dr. Guy Sconzo said. “The multiple apartment complexes will undoubtedly provide us with many new students and will keep us on the fast growth track.”
Additionally, as more businesses and housing developments are constructed near Beltway 8, the demand for more affordable housing like apartment complexes increases.
The Verde Woodland Hills Luxury Apartment Homes is just one of the new complexes being developed in Atascocita, across the street from Humble Middle School.
The residents of the new apartment complexes being constructed near the front of Kingwood, such as the Villas of Kingwood, which is near completion, attend schools within New Caney Independent School District.
“This community is just experiencing a great deal of growth,” Cindy Combs, Villas of Kingwood property owner, said about why there were so many new apartment complexes being developed.
Additionally, the Bellaterra at Deerbrook apartment complex has had a steady stream of eager apartment seekers searching for a place to live.
The complex, managed by property owner Cheryl Gideon, has been open since 2007 and was previously known as the Wyngate at Deerbrook before a change in management.
Gideon, along with several employees, including Nikki Simpson, who worked for many years as an apartment finder for residents, has noticed an increase in demand for apartments.
“It is not due to foreclosures that our demand has increased. Our location is prime and we offer very large floor plans that are simple,” Simpson said.
“We are growing as a company now as the apartment demand is growing. I have seen it in the past when I worked as an apartment finder that apartment demand does come in cycles and as always, it depends on the economy.”
Apartment renting cycles
The demand for new apartment complexes is on the rise as portions of the community are experiencing high rates of growth and qualifications to own a home are more stringent.
“The increase in apartment complexes is not a normal trend but does occur in cycles. We saw the same apartment boom in the late 1980s, though it doesn’t compare to the apartment rush we saw in 1999,” said Bruce McClenney, president of Apartment Data Services Inc.
“Low interest rates and low job growth intrigue apartment complex developers to start developing along with the growth and development that Houston is experiencing right now; it is a good time to develop apartment complexes.”
As of November 2008, the number of apartment units in the Greater Houston area has reached 16,414. Occupancy is at 86.7 percent.“The great news is there has been a lot of apartment construction in Houston but we are not overbuilding. Residents have started to look for apartments after the sub-prime mortgage crisis,” McClenny said.The sub-prime mortgage crisis is a financial crisis triggered by the rise in nonpayment of mortgages and home foreclosures which negatively affected banks and financial markets. Because of the mortgage delinquencies and foreclosures, it has become tougher for those wishing to own a home or receive a loan for a home.
McClenny also added that single-family developers and multi-family developers look for the economy and employment to rise, which may equal more people buying homes.
“There is more demand for for apartments, and complex developers anticipated this change in the market. This year has been a very challenging year, so it will be interesting to see how everything pans out,” McClenny said. “Apartment complexes are in a good position right now; we just have to see what happens with the consumer.”
Multifunctional living
As East Montgomery County continues to expand with the proposed new dinosaur park, new retail shops and plenty of new housing developments, an apartment complex in the Valley Ranch subdivision has joined in the ever-changing scenery.
The Villas at Valley Ranch are still in the midst of construction but several tenants have already signed leases and are set to move in as soon as possible.
Part of a master-planned community, the Villas at Valley Ranch offer residents looking for apartment living a host of amenities.
“We have had plenty of interested residents stop by to check us out. For this particular apartment complex, the growth of the community and location are the keys to our success,” Jennifer Teel, property manager, said.Teel said that those who have inquired about units are interested because of how close the complex is to everything, and yet is secluded.“We began leasing units officially in May and we look forward to growth in the community and our apartments. We are very excited about what is to come,” Teel said.
The apartments are going to be located near the retail center Valley Ranch is planning to build and are steps away for the community’s single-family and multi-family homes, which is fairly common.“Apartment complexes are commonly built near homes so if they may have elderly relatives or maybe even a college student they can have the freedom of living on their own but still be close enough to be checked on,” Teel added.
The Villas at Valley Ranch complex consists of 312 units and is complete with a cabana featuring gas grills, a three-acre nature trail and floor plans with a western twist and each named after John Wayne movies.
The future of apartment living
Currently, there are two apartment complexes under construction: Harbor View in Kingwood and Alexan Eagle Creek on Beltway 8 near Wilson Road in Humble.
Several other apartment complexes - Verde Woodson Park near Summerwood, Villas of Kingwood, Alta Pine Forest in Humble and the Villas at Valley Ranch in New Caney are still completing construction but have started to lease units to interested residents.
The Lake Houston/Kingwood area is number five in the hottest sub-markets of Houston while the FM 1960 W./Champions area is ranked at 25 and the FM 1960 E./IAH Airport area is ranked as 32nd.
More info
Houston Apartment Association - www.haaonline.org
Apartment Data Services Inc. - 281-759-2200
Apartments have plenty of amenities and options, allowing for no-strings-attached living, making renting more convenient and easier during this economic slump.
Apartment complexes are constantly popping up on major thoroughfares and side streets throughout the community, offering residents an option of where to live.
South-end growth
Traveling along FM 1960 from the Humble city limits to the Huffman city limits, the sides of the roadway are dotted with numerous apartment complexes as well as on Atascocita Road and Beltway 8 near the Fall Creek and Summerwood subdivisions.
The growth in the south end of the Humble Independent School District has caused some concern about the amount of new students coming to the district every year.
There are 40 different apartment complexes zoned to schools within Humble ISD and there are many more complexes being built to accommodate the growth.
With more apartment complexes being constructed on the south end of the district, more students who reside in the complexes will fill the schools on this particular side.
“Despite the economic downtorn, the growth in our district, partciularly along the Beltway seems to be fast and furious,” Humble ISD Superintendent Dr. Guy Sconzo said. “The multiple apartment complexes will undoubtedly provide us with many new students and will keep us on the fast growth track.”
Additionally, as more businesses and housing developments are constructed near Beltway 8, the demand for more affordable housing like apartment complexes increases.
The Verde Woodland Hills Luxury Apartment Homes is just one of the new complexes being developed in Atascocita, across the street from Humble Middle School.
The residents of the new apartment complexes being constructed near the front of Kingwood, such as the Villas of Kingwood, which is near completion, attend schools within New Caney Independent School District.
“This community is just experiencing a great deal of growth,” Cindy Combs, Villas of Kingwood property owner, said about why there were so many new apartment complexes being developed.
Additionally, the Bellaterra at Deerbrook apartment complex has had a steady stream of eager apartment seekers searching for a place to live.
The complex, managed by property owner Cheryl Gideon, has been open since 2007 and was previously known as the Wyngate at Deerbrook before a change in management.
Gideon, along with several employees, including Nikki Simpson, who worked for many years as an apartment finder for residents, has noticed an increase in demand for apartments.
“It is not due to foreclosures that our demand has increased. Our location is prime and we offer very large floor plans that are simple,” Simpson said.
“We are growing as a company now as the apartment demand is growing. I have seen it in the past when I worked as an apartment finder that apartment demand does come in cycles and as always, it depends on the economy.”
Apartment renting cycles
The demand for new apartment complexes is on the rise as portions of the community are experiencing high rates of growth and qualifications to own a home are more stringent.
“The increase in apartment complexes is not a normal trend but does occur in cycles. We saw the same apartment boom in the late 1980s, though it doesn’t compare to the apartment rush we saw in 1999,” said Bruce McClenney, president of Apartment Data Services Inc.
“Low interest rates and low job growth intrigue apartment complex developers to start developing along with the growth and development that Houston is experiencing right now; it is a good time to develop apartment complexes.”
As of November 2008, the number of apartment units in the Greater Houston area has reached 16,414. Occupancy is at 86.7 percent.“The great news is there has been a lot of apartment construction in Houston but we are not overbuilding. Residents have started to look for apartments after the sub-prime mortgage crisis,” McClenny said.The sub-prime mortgage crisis is a financial crisis triggered by the rise in nonpayment of mortgages and home foreclosures which negatively affected banks and financial markets. Because of the mortgage delinquencies and foreclosures, it has become tougher for those wishing to own a home or receive a loan for a home.
McClenny also added that single-family developers and multi-family developers look for the economy and employment to rise, which may equal more people buying homes.
“There is more demand for for apartments, and complex developers anticipated this change in the market. This year has been a very challenging year, so it will be interesting to see how everything pans out,” McClenny said. “Apartment complexes are in a good position right now; we just have to see what happens with the consumer.”
Multifunctional living
As East Montgomery County continues to expand with the proposed new dinosaur park, new retail shops and plenty of new housing developments, an apartment complex in the Valley Ranch subdivision has joined in the ever-changing scenery.
The Villas at Valley Ranch are still in the midst of construction but several tenants have already signed leases and are set to move in as soon as possible.
Part of a master-planned community, the Villas at Valley Ranch offer residents looking for apartment living a host of amenities.
“We have had plenty of interested residents stop by to check us out. For this particular apartment complex, the growth of the community and location are the keys to our success,” Jennifer Teel, property manager, said.Teel said that those who have inquired about units are interested because of how close the complex is to everything, and yet is secluded.“We began leasing units officially in May and we look forward to growth in the community and our apartments. We are very excited about what is to come,” Teel said.
The apartments are going to be located near the retail center Valley Ranch is planning to build and are steps away for the community’s single-family and multi-family homes, which is fairly common.“Apartment complexes are commonly built near homes so if they may have elderly relatives or maybe even a college student they can have the freedom of living on their own but still be close enough to be checked on,” Teel added.
The Villas at Valley Ranch complex consists of 312 units and is complete with a cabana featuring gas grills, a three-acre nature trail and floor plans with a western twist and each named after John Wayne movies.
The future of apartment living
Currently, there are two apartment complexes under construction: Harbor View in Kingwood and Alexan Eagle Creek on Beltway 8 near Wilson Road in Humble.
Several other apartment complexes - Verde Woodson Park near Summerwood, Villas of Kingwood, Alta Pine Forest in Humble and the Villas at Valley Ranch in New Caney are still completing construction but have started to lease units to interested residents.
The Lake Houston/Kingwood area is number five in the hottest sub-markets of Houston while the FM 1960 W./Champions area is ranked at 25 and the FM 1960 E./IAH Airport area is ranked as 32nd.
More info
Houston Apartment Association - www.haaonline.org
Apartment Data Services Inc. - 281-759-2200
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