Development

Description

  • Palazzo at Cypresswood, Houston, TX
  • 363 unit wrap style luxury apartment community
  • 359,071 square feet

Assignment

  • Develop a luxury style apartment targeting a 24% internal rate of return on the capital investment over a 3 year holding period
  • Oversee all aspects of the construction and development of the project and complete within a 24 month period and keep within the construction budget

Result

  • All construction documents have been approved by Harris County and all building permits have been received
  • The project is ahead of the original 24-month schedule
  • The project is being delivered under budget
  • Final acceptance of the first rental units in Building No. 1 transpired on August 1, 2009 with tenant move-ins immediately following