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Texas   /   February 9, 2021

Lisa Brown
By: Lisa Brown

Luxury Product Dearth to be Quelled with the Waterview

A new community at the northwest corner of Grand Parkway and Harlem Road will help meet rising housing demand in an area where new jobs, retail centers and single-family residential developments have multiplied. That is about to change with the addition of The Waterview, a 295-unit multifamily community.

The development marks the next phase in the buildout of the 135-acre mixed-use Waterview Town Center in Richmond. Built in a joint-venture with Austin-based multifamily developer Wayfinder Real Estate, The Waterview will be the first residential development for the Houston-based Read King Commercial Real Estate.

A new Amazon fulfillment center that is expected to employ up to 1,000 workers will open immediately east of the Waterview Town Center later this year.

“This was an opportunity we couldn’t pass up,” said Read King co-founder Ewing King. “All the stars aligned. It is a highly visible and accessible site surrounded by outstanding amenities. The area’s phenomenal retail and employment growth is driving strong multifamily demand.”

Newmark’s Houston capital markets team, led by David Schwarz, arranged the debt and equity for the project. The project was designed by W Partnership Inc., a Houston-based architectural firm, and Oden Hughes Construction is serving as the general contractor.

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About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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