The new deal, dubbed Phase Three, includes an 86-acre tract that gives NewQuest control of three corners at the intersection of TX 6 and the Fort Bend Parkway. Located approximately 15 miles from the Texas Medical Center, NewQuest's sale of 23-acres to Sueba USA Corp. will pave the way for construction on four, four-story apartment buildings that will feature amenities such as courtyards, walking trails, and swimming pools.
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"There are many medical professionals of all ages who want high-end, urban-style units outside the city versus what's historically been available," NewQuest senior associate Andrew Alvis said in a statement. "We plan to fulfill that demand while also putting bodies on the ground to further support our retail, restaurant and entertainment tenants."
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