Houston Update: $9.5 Million House Contract, New housing community, Metroparks square's new project

Josh: Hello welcome, this edition of weekly update. My name is Joshua Vita I’m the local CBTV Reporter for Houston TX. This week on weekly update we have River Oaks home construction under $9.5 million contract. Meritage home to build housing and Texas City and Metro Park Square has two new construction projects in the mixed-use developments. Ok our first story up today is about Metropark Square, the next phase of Metropark Square, is expected to get underway later this year. Dallas based retailer and developer Sam Moon Group expects to begin construction on the residences at Metro Park in the third quarter of this year. The apartment project will include 324 units ranging from one to three-bedroom apartments in two story townhomes. Hyatt House Metropark Shenandoah, The Woodlands. Is also under construction. The hotel will be 5 stories and have 140 rooms ranging from studios to one- and two-bedroom suites and is slated to open in April. Metropark Square, 70 acres and open early in 2019 is located Ascendo and North of Houston, along the eastern side of Interstate 45. N.

Our next story up today is about the Meritage Homes. Meritage Homes purchased 40 acres in Texas City for a new community of single-family houses. The company plans to build 169 homes which will range in size between 1831 square feet to 2991 square feet and Community will be called Central Park Square. Central Park Square is not expected to be subject to municipal and utility taxes. Causing tax rates to be 2.62% lower than surrounding neighborhoods. The model homes are scheduled to open in March of 2021. This is on Central Park squares located South of Houston on Interstate 45.

OK, last trip today is about the River Oaks Development 3024 Del Monte Dr is the address of the 11,000 square foot home currently under construction. The project in River Oaks is under a $9.5 million contract according to Clayton Katz, the realtor with the Houston Office of New York based Compass said the home was potentially the most expensive speculative single home underway in Houston. The house with five bedrooms, six bathrooms and three car garage. The homes is being built by Houston based Carnegie Homes and Construction.

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