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Dear
Friends,
Alliance Communities has just acquired a 14-acre site in Westway
Park to build the 336-unit Broadstone Westway Park apartment
community in a joint venture with Opus West Corp.
Westway
Park is a 150-acre, master-planned development
by Wolff Companies located in the Techway at the intersection
of the West Sam Houston Tollway and Clay Road. The Park is
100% leased with major owners and tenants like Cameron, Seismic
Exchange, News Channel 24 (TimeWarner), Stewart Title, Nextel,
Ryland Homes and P&O Nedloyd.
For
a detailed site map of Westway Park click here.
The
master plan for this mixed-use development was carefully crafted
to provide a single site for a high quality residential development.
The Broadstone Westway Park is the perfect product for this
location.
The
addition of a nearby, high quality multi-family community
broadens the appeal for a wide variety of potential buyers
such as banks, restaurants, retail developers and other professional
service providers that will complement and support the corporate
employers in the Westway Park area.
Wolff
Companies' recent acquisition of almost 40 acres from the
Texas Department of Transportation (TxDOT) in Westway Park
made the new Broadstone community possible. The land purchase
expanded opportunities for additional commercial development
in the Park. After the sale to Alliance, just over 50 acres
remain available for immediate development, in sites ranging
from 2 to 24.5 acres.
Recent
developments in and around Westway Park include the investment
of more than $45 million, representing almost 500,000 square
feet of office space and other facilities in the immediate
area. Community amenities such as the $10 million YMCA due
to be open in January on Clay Road, and proximity to recreation,
shopping and major transportation routes have also increased
the Techway's attractiveness for new residential development.
Dennis
Johnston, of McDade, Smith, Gould, Johnston, Mason & Co
represented the buyer.
For
a more information about Westway Park click here.
For
more information on any of Wolff Companies' properties in
the Houston area, please visit us at www.wolffcompanies.com
or give me a call.
Thank
you,
David W. Hightower, CCIM, CRE
Executive Vice President
Wolff Companies
20 Briar Hollow Lane
Houston, TX 77027
e-mail: dwh@wolffcompanies.com
telephone: 713-626-8050
fax: 713-626-3093
www.wolffcompanies.com
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