Fein to start inner-loop multifamily projects

HOUSTON – Martin Fein Interests Ltd. is set to begin demolishing the Willowick Court Townhomes to make way for three new multifamily projects near the intersection of W. Alabama and Las Palmas streets. The multifamily developer acquired the 10.3-acre site in September 2011.

Fein will start vertical construction in March 2013 with completion expected by third quarter 2014.

Aria at Willowick Park will have 325 units over a two-level parking garage and will offer one-, two- and three-bedroom units averaging 862 sf.

Olympia at Willowick Park will be a 189-unit, eight-story project situated over a two-story garage and will feature one-, two- and three-bedroom floor plans averaging 1,462 sf. Construction costs are estimated at $38 million, according to state filings.

The Townhomes at Willowick Park will be a 38-unit rental townhome development with three-bedroom units ranging from 2,100 sf to 2,600 sf and attached two-car garages.

Rental rates for all three projects range from $1,100 to more than $5,000.