Martin Fein Interests property developers announced Dec. 17 that it had purchased 17.44 acres of land to develop The Canopy at Springwoods Village luxury apartments, according to a press release.

Construction for the multifamily development, which will be located on Spring Stuebner Road near I-45, is expected to break ground by January 2020 and is estimated to be completed by the fourth quarter of 2021. The property will offer 332 units, ranging from 552 square feet to 1,705 square feet, with one-, two- and three-bedroom apartment options and several one- and three-bedroom town homes.

The development will be the third multifamily community at Springwoods Village, joining The Mark at Springwoods Village CityPlace, a 268-unit property located at 1600 Springwoods Plaza Drive, and The Belvedere in Springwoods Village, a 342-unit property located at 2323 East Mossy Oaks Road.

“We’re excited to be commencing construction on our third multi-family development in Springwoods Village," said Rebecca Luks, vice president of development at Martin Fein Interests, in a statement. "The Canopy represents an alternative rental price point for the many corporate employees living in and around Springwoods Village. We now have an apartment option for everyone from CEOs to entry level employees."

In addition to direct walking access to the The Market at Springwoods Village retail center, The Canopy will also feature bike trail access to the CityPlace urban center, which contains shopping, dining and entertainment options, such as the recently opened Star Cinema Grill and 24 Hour Fitness.