The project will be located at 12603 Telge Road, south of the Cy-Hope headquarters and former Northwest Forest Conference Center. The subdivision will include 244 homes, which will be spread out across a series of four-plexes that will each be three stories tall.
The first buildings should be complete and ready for move in by late spring 2020, said Steve Olson, a project representative with Fourplex Investment Group and Re/Max Prestige. Olson said he believes there is demand for townhomes in Cypress.
"We’re optimistic about townhomes in the area," Olson said in an email. "Based on our other projects in the Houston market, tenants and buyers are looking for some kind of middle ground between single family homes and high end apartments ... With Cypress being in that Grand Parkway corridor and in an area with good schools, we feel like demand will be strong.
All units will be approximately 1,650 square feet with three bedrooms, 2.5 bathrooms and a one-car attached garage. Olson said sales prices are averaging $172,000 per unit with rents averaging about $1,650 per month.
Amenities will include a swimming pool, clubhouse, multiple playgrounds, a dog park and a walking trail that encompasses the community, Olson said. Smart home technology will be incorporated into the home designs, including doorbell cameras, Nest thermostats and moisture detectors, he said.
According to a site plan, part of the 26.2-acre project will be left undeveloped and will include a detention pond to help with drainage.