Harden points out that Brownsville tends to be an undeserved market when it comes to class A, market rate multifamily properties. "There are two other class A, market-rate apartment complexes – Las Palmas and La Mansion," Harden comments, adding that both properties came online in the late 1990s and early 2000s. "There hasn't been anything like that built since then," he tells GlobeSt.com. "There is definitely a need for housing of this type in Brownsville."

One reason for this observation is because, unlike the adage in which retail follows housing, the retail is, in many cases, already in place on Ruben Torres. Sunrise Mall, home to national retailers including JCPenney, Zales Jewelers, Victoria's Secret and Dillard's, is three miles away from Bella Vista. Meanwhile, the project isn't too far from an area of high-density employment as well as close to the Port of Brownsville. "There isn't a lot of quality housing in the area," Harden remarks, "but there's already a lot of retail there."

RightQuest has been focusing on building in secondary markets – in May, the company launched construction on the first phase of Villages at Sugar Road in Edinburg, and has just completed the 180-unit Villages at Paso Real in San Benito, TX, which is 95% occupied.

Harden acknowledges that it's more difficult to develop in Texas, whether in core, secondary or tertiary markets. "Since we started on the San Benito project, so many more developers are chasing projects, especially in Texas," he says. "Because cap rates have gotten so low in core markets, the secondary markets are attractive to investors."

Because of this trend, Harden declined to provide a specific timeline or plan for another RightQuest project in the near future. "We're always looking to work on that next project," he says.