(Read more on the multifamily market.)
HOUSTON-Opus West Corp. and Alliance Communities, which is the Texas division of the Phoenix-headquartered Alliance Residential Co., are teaming to build two complexes. The 312-unit Broadstone Cypress will break ground in the northwest submarket while the 353-unit Broadstone Walker Commons is coming up on the southwest side.
The partnership started construction last week on the Broadstone Walker Commons, which is rising on 17.15 acres near Interstate 45 and Calder Road. Broadstone Cypress, set to start in mid-October, will be situated on 14 acres at Texas 290 and Mueschke Road. Similar class A complexes have been built for $90,000 to $100,000 per door.
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