CIVITAS CAPITAL AND THE SHELTER COMPANIES BREAK GROUND ON UNITi MONTROSE IN CULTURE CORE OF HOUSTON

News provided by

Sep 29, 2022, 16:15 ET

HOUSTON, Sept. 29, 2022 /PRNewswire/ -- Civitas Capital Group, through its residential development subsidiary The Shelter Companies, is developing a 238-unit, 381-bed residential multifamily project on approximately 1.09 acres in Houston's thriving Montrose district. The development, UNITi Montrose, will provide attainable rental housing in one of the most expensive and desirable submarkets of Houston through a unique blend of co-living, shared common areas, and micro-units.

General contractor Arch-Con^® Corporation is constructing the six-story, 199,320-square-foot multifamily building stacked on a three-story, 109,000-square-foot cast-in-place concrete parking garage. Designed by Meeks Partners, the development includes 14,122 square feet of amenities, balconies, a fourth-floor pool and courtyard, and 4,000 square feet of retail space on the ground floor.

Shelter is a disrupter in the traditional multifamily market, anticipating historic shifts in the Sun Belt region of the United States to accommodate residents. UNITi Montrose is an example of the firm's investment strategy to deliver solutions for cost-burdened renters.

"UNITi Montrose will provide fully furnished units, flexible lease terms, Class A amenities, and all-inclusive rent payments that provide a frictionless experience to an evolving demographic of renters," Shelter's Principal Mark Drumm said. "We are seeing that renters are willing to share certain amenities in exchange for convenience, flexibility, and high-quality living, and this project provides just that."

The project, located in the Montrose neighborhood, is less than 10 minutes from Houston's central business district, including Midtown, the medical center, The Ion, and major universities. It is expected to generate more rent per square foot than traditional multifamily dwellings, while providing attainable rental rates for middle-income earners.

Arch-Con began working with Shelter and Meeks Partners in the spring 2021 on pricing and design. "Multifamily projects of this type require measured preconstruction efforts to ensure they are economical and timed just right," Arch-Con's Vice President of Multifamily Bryan Tufts said. "Making sure this project was cost-effective for Shelter and its future residents was equally important as we thrive on finding the best solutions for our clients."

About Civitas Capital Group

Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn.

About The Shelter Companies

The Shelter Companies, a subsidiary of Civitas Capital Group, is a private real estate company focused on developing and repositioning attainable multifamily housing, including co-living and micro-units for more than one-third of the U.S. population. Shelter is a disrupter of the traditional housing market and stands at the forefront of historic shifts in technology, lifestyle, and job markets. Shelter's strategy allows for opportunistic returns while providing a high-quality experience to renters at a fair market price. For more information, visit The Shelter Companies at https://www.sheltercompaniesllc.com.

About Arch-Con^® Corporation

Arch-Con^® Corporation is a national commercial general contractor founded in 2000 with offices in Houston, Dallas, Austin, and Denver. Arch-Con's award-winning team simplifies the construction process using the latest cost-efficient technologies to stay on the cutting edge of the industry. With experts in the construction of office, industrial, cold storage, retail, hospitality, corporate interiors, healthcare, multifamily and community developments, we make construction easy. Learn more at www.arch-con.com.

SOURCE Civitas Capital Group