Cresset, Fidelis Join Forces on 252-Unit Willis Venture

Cresset Real Estate Partners and Fidelis Residential Partners are teaming up to develop a nine-building, 252-unit multifamily community in Willis, near Houston. 

The project, named Fidelis Willis, is the latest development funded by Cresset’s third Qualified Opportunity Zone (QOZ) fund, Cresset Diversified QOZ Fund III. Its predecessor, Cresset Diversified Qualified Opportunity Zone Fund II closed with more than $650 million in equity commitments.

The Fidelis Willis development is part of a larger community known as Moran Ranch. It is located along the I-45 corridor.

The 252 units will be situated within nine three-story apartment buildings, featuring 120 one-bedroom units, 114 two-bedroom units and 18 three-bedroom units, with nearly 250,000 square feet of rentable space. The project is shovel-ready and expected to break ground in late 2024, with construction to be completed by Q3 of 2026.

Fidelis Willis’ amenities will include a 24-hour fitness center, clubhouse, pool, dog park, game room and more.