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Gables Builds 296 Apartments as Houston Market Strengthens

HOUSTON-Gables Residential is undertaking a 296-unit expansion to Gables Meyer Park, banking on peak-demand predictions by Apartment Data Services. The $27-million project will deliver by year-end 2001.

By Jack Burney | Updated on December 20, 2000

HOUSTON-It’s going to be good times for apartment owners in the next two years, the data shows, and national apartment giant Gables Residential, no stranger to Houston, is moving to take advantage of the opportunity.

Citing Apartment Data Services figures that indicate a strengthening of the apartment market in Houston, the developer is launching Gables Meyer Park II, a 296-apartment expansion of the 345-unit Gables Meyer Park. That project had been developed in 1993 at 9701 Meyer Forest Dr. at W. Belfort, just east of Meyer Park Shopping Center.

The new construction will fill the gap between the present structures and the 610 Loop. Construction is already under way with completion anticipated by the end of 2001, but leasing will begin next summer. The expansion will boast apartment homes averaging 1,000 sf, with projected rents of about $1.06 per sf and rents as high as $2,500 per month for the larger floor plans.

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