The Scottsdale, AZ-based developer's first project in Houston fronts Dolores Street near its junction with Chimney Rock Road. "There is not a lot of land left in the Galleria," says David Weber, Great Western's president and COO, "and there is a lot of demand for this type of housing." He tells GlobeSt.com that similar land sells for roughly $30 per sf, but can reach as high as $35 per sf.

Great Western will break ground nine townhouses in May. The three-story units, each 2,800 sf, will have three bedrooms, two-car garages, third-floor balconies and high-end finish-outs. Weber says the units, priced at $300,000 to $400,000, will deliver before the year ends.

"There are a lot of people who want to live in the Inner Loop with all the amenities, but don't want to live in an apartment or have a big yard," Weber says. He says he's looking for other Houston-area sites primed for 10- to 15-unit designs. The developer has a 43-unit development under way in College Station and 48-unit project rising in Glendale, AZ.