US: UNITi Montrose, a coliving development in Houston’s Montrose District, has topped out.
The nine-storey building, developed by Civitas Capital Group’s residential development subsidiary The Shelter Companies, will provide “attainable rental housing in one of the most desirable submarkets of Houston”.
Constructed by general contractor Arch-Con Corporation, UNITi Montrose will be one of the first coliving developments in Houston, offering 161 private rooms within 48 shared suites. This is in addition to 190 traditional studio, one-, and two-bedroom units.
“Our team has spent more than five years researching and learning about coliving communities across the globe,” said Jorge Adler, Civitas’ vice president, investments. “For coliving concepts to work in the United States, and in Texas specifically, it is essential to find unique locations that are easily accessible by public transportation, within walking distance to a plethora of amenities, and within a short commute to major employment centres.”
Located at 701 Richmond Ave., UNITi Montrose is within two miles of the largest medical centre in the world, downtown Houston, Rice University, the University of St. Thomas and three miles from the University of Houston.
The Shelter Companies is specifically focused on developing attainable forms of housing. Common has been appointed to manage UNITi Montrose. Common operates more than 5,000 units in 11 major cities. The average age of a Common renter is 29 and 50 per cent are new to the city in which they live. The company merged with Habyt in January of this year to become the largest global coliving operator.
“Common was formed around the idea of coliving and has perfected every aspect of operating these types of properties,” Adler said. “From the way they market the buildings, to their leasing process, to how they curate community, there is no one better.”
UNITi Montrose will be fully furnished with amenities including routine cleaning services, basic household supplies, in-unit laundry, resident events at the property and larger events at the city level. Common will begin preleasing in the second quarter of 2024 and UNITi Montrose is on track to open in the summer of 2024.
