Conroe, Texas is about to get a housing boost thanks to Georgia-based Landmark Properties, which has launched a new built-to-rent project aimed at catering to the city's surging population. The Everstead at Conroe, taking shape on 23 acres at 7711 Longmire Road, promises to deliver 190 units comprising a mix of two-bedroom and three-bedroom homes.
According to Houston Chronicle, this ambitious development will stretch across 287,364 square feet with 136 one- and two-story buildings. A telltale sign of the mushrooming built-to-rent trend in Montgomery County, the project includes amenities such as a sizable 2,817-square-foot clubhouse, a fitness center, and resort-style swimming pool – not to mention sports courts and a dog park to keep residents entertained.
Conroe's draw as a "business-friendly" boomtown is not lost on Wes Rogers, President and CEO of Landmark Properties. Rogers touted the city's recent accolades—impressive population growth and an enviable ranking as the number one boomtown in Texas—to YieldPro, stating that Conroe's various perks are a magnet for "young professionals, families and empty-nesters alike."
The inexorable march of house prices is pushing more people to rethink ownership, fueling an uptick in the rental market. Nancy Mikeska, assistant city administrator and director of community development, highlighted in the Houston Chronicle, the role these rentals play in bridging the homeowner gap for those who might struggle to afford a downpayment.
The construction wing of Landmark Properties, Landmark Construction, is set to take the reins as the project's general contractor, with expectations to welcome the first tenants in early 2025 and wrap up the entire shebang by the year's end. Though capital markets are currently shaky, Rogers remains optimistic about the demand for rental housing. He pointed out to YieldPro that the company's integrated approach keeps them nimble enough to expand their rental portfolio quickly.
