Developed by Howard Hughes Communities, both are marketed as luxury properties. The 1 Riva Row building opened in November and is the first high-rise rental residence with penthouses available for lease in a multifamily community in The Woodlands, according to Howard Hughes Communities. Meanwhile, The Ritz-Carlton Residences, The Woodlands is the first such stand-alone for the brand in Texas, according to Howard Hughes Communities.
At a glance
Most of the renters living at multifamily properties of Howard Hughes Communities in The Woodlands are local residents choosing to transition from single-family homes to a more convenient lifestyle, according to information from Howard Hughes Communities.
“We are also starting to see growing interest from city-based renters drawn to our highly amenitized community,” a Howard Hughes Communities spokesperson said.
Prices for The Ritz-Carlton Residences, The Woodlands still available as of May 21 range from $3.6 million to $8.3 million. However, local Realtors said high prices are not a deterrent in The Woodlands market.
“Properties in denser areas like 1 Riva Row and East Shore sell fairly quickly generally in less than 30 days if they are priced appropriately. However, ultra-luxury homes priced significantly higher between $2.5 million and $4.5 million typically take more time to sell than homes in the entry-level luxury market, which is around $1 million to $2 million,” The Woodlands-based Realtor Melody Pevateaux said.
The 1 Riva Row property opened in late 2025. (Courtesy Howard Hughes Properties)
The Ritz-Carlton Residences-The Woodlands will open in 2027. (Rendering courtesy The Ritz-Carlton Residences-The Woodlands)
A closer look
Properties like The Ritz-Carlton Residences, The Woodlands can be seen as part of the response to a growing demand for condos and high rises in the real estate market, said Chanel Raesis, director of agent development for CB&A and board member of the Houston Association of Realtors.
“In the past, it seemed as though [condo and high-rise] inventory, which you could see from market data, was pretty low. They didn’t sell a lot ... and so now with the shift of having more inventory, there’s a lot more options for buyers than they’ve really had over the years,” Raesis said.
The Woodlands market had 48 active luxury high-rises listed for sale in 2025, compared to fewer in 2021-24, according to HAR.
Jim Carman, president of the Texas Region for Howard Hughes Communities, said multifamily opportunities are important to residents and workers in the market.
“Buyers and renters are drawn to the security of a master-planned community with walkable access to exceptional restaurants, retail, entertainment, trails and natural beauty—a combination that sets The Woodlands and our other Houston communities apart,” Carman said.
By the numbers
The Woodlands has traditionally offered a range of home pricing options in response to demand and affordability, but growth in the region has contributed to a rise in home sale prices since the pandemic, said Jorge Barro, a Texas A&M University Texas Real Estate Research Center economist based in The Woodlands.
In 2021, 23.07% of homes in The Woodlands were priced at $300,000-$399,999, according to Texas A&M University data. However, by 2025, only 13.97% were in that range and more than half—60.11%—were $500,000 or higher, according to data from 2021-2025. Due to a mix of industries such as energy and health care in The Woodlands, higher-end properties remain in constant demand, Barro said. However, remote workers are also attracted to the area, he said.
“When you have a position where you can work anywhere in the U.S., then the question becomes what location can facilitate a lifestyle, so The Woodlands has tremendous amenities that attract these type of people,” Barro said.
Other projects
The Ritz-Carlton Residences, The Woodlands are located close to East Shore, which is another option with some higher-priced homes still seeing demand in the single-family market, specifically in Aria Isle, Realtor Lily Jang said.
While single-family homes are nearly built out in The Woodlands, East Shore on Lake Woodlands is home to some recent and ongoing construction. Community Impact previously reported that Aria Isle will house more than 20 homes priced at $3 million or higher, and area Realtors said those remain among the most sought-after in The Woodlands.
“East Shore has always been hot. The listing that I have is on the island, and of course, real estate is scarce because you only have so much land before it sells out. It’s now sold out so I have one listing. It’s the only house for sale on the island, and I’m getting nonstop traffic,” Jang said.
The takeaway
According to information from HAR, as of May 21, nine units were for sale at The Ritz-Carlton Residences, The Woodlands, of which four were under contract.
Though purchasing a home can be beneficial in the long term, renting can be an alternative that still allows for desirable amenities, area real estate experts said.
“The market is tilted more toward apartments and less from the ownership of condos, and that’s because taking care of an especially large building is a difficult thing for the typical homeowner to do,” said Steven Craig, University of Houston economics professor.
According to information on the website for 1 Riva Row, 140 units were available as of May 21—down from 142 the week before. A Howard Hughes Communities spokesperson said a second phase is not planned.
