THE WOODLANDS, TX – (October 29, 2007) – A partnership of The Woodlands Development Company and The Dinerstein Companies of Houston has announced plans to construct a 393-unit luxury urban apartment community in The Waterway Square District of The Woodlands Town Center, according to Dan Leverett, vice president of commercial for The Woodlands Development Company (TWDC) and Jack Dinerstein, CEO of The Dinerstein Companies. The partnership plans to build this property LEED Certified Silver, making it one of the first Green multifamily properties in the country.
To be called Millennium Woodlands, the 348,344-square-foot project will be bordered by Timberloch Place to the north, Woodlands Parkway to the south, Six Pines Drive to the west and Waterway Avenue to the east. The first phase of development will be located at the southwest corner of Timberloch Place and Waterway Avenue. The apartments will be wrapped around a parking structure, providing 613 parking spaces for residents, in addition to 21 surface parking spaces. Construction is expected to begin late this year, with completion planned for mid-2010. The apartments are being constructed by DDC Construction, Inc.
According to Dinerstein, the interior units will be top of the line complete with 10-foot ceilings, stainless steel appliances and a fitness center and clubhouse more comparable to a health club than an apartment complex. Many of the units will be loft style and the entire project will have a modern and stylistic feel. Humphreys and Partners Architects, L.P. of Dallas is the architect for the project. Rents are expected to range from $1,100 - $2,500 per month.
“We are excited about the opportunity to develop in The Woodlands Town Center,” said Dinerstein. “We believe that the location is one of the best in the country and shows that New Urbanism works. Residents of Millennium Woodlands will be able to live, work and play without ever having to get into an automobile.”
“Millennium will provide the kind of environment that is very appealing to singles, professional couples and empty nesters who want to take full advantage of the vitality of a close-in location in The Waterway Square District,” Leverett said. “There is a great demand for this type of residence in The Woodlands, where there is already an abundance of shopping, dining, entertainment and jobs within walking distance.”
TWDC is the developer of The Woodlands, a 28,000-acre master planned community located 27 miles north of downtown Houston. TWDC is a limited partnership of Morgan Stanley and General Growth Properties, Inc.
The Dinerstein Companies is a Houston-based, family owned and operated company that has built and operated apartment communities in 27 different states. The company currently has more than 400 employees. The Company has four other Millennium projects currently underway in the U.S., including the Millennium Greenway in Houston, Millennium Warner Center in Los Angeles, CA, Millennium Westshore in Tampa, FL and Millennium South End in Charlotte, NC. |
