Venterra Realty has acquired a 12.78-acre site in Cypress area of northwest Houston, Texas, the US, to construct its first ground-up multi-family development project.

The new Class A garden style multi-family community will deliver 336-units and will feature an 8,600ft2 clubhouse, fitness centre, package lockers and a resort-style pool.

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It will also include outdoor lounge, yoga/spin room, business centre, a dog park, “WeWork” style workspaces, property wide WiFi, and covered parking (garages and carports).

Venterra Development vice president Neil Simon said: “We are thrilled to announce that we have closed on the site for our first ground up development in the growing area of Cypress.

“This transaction represents a significant milestone for our development initiative, a key organizational focus for Venterra. I look forward to being a part of this project from start to finish and providing the residents of Cypress with a community complete with industry-leading technology and amenities, operated by caring people.”

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The new property is located adjacent to the Bridgeland, an 11,400-acre site that is being developed by the Howard Hughes. It includes 3,000-acres of lakes, parks, trails, several office and retail job centres.

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Amenities at the community include resort-style pools, Treehouse Park, nature trails and 250 miles of hike and bike trails.

Bridgeland will include four distinct villages that include Lakeland Village, Parkland Village, Prairieland Village, and Creekland Village.

A retail shopping hub will also be developed at each of the four villages.

Venterra expects that the population at Bridgeland would be more than 63,000 residents at final build out.

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Venterra Realty Development Rendering. Credit: Venterra Realty.