Pine Creek Apartments is a 300-unit, garden-style apartment complex located in Houston, Texas. The property consists of 20 two-story buildings situated on 9.5 acres, with parking for 453 vehicles.
Upon acquisition, Ytech invested millions for a complete renovation and leased the units until stabilized occupancy was achieved.
The redevelopment plan involved structural, façade and roof repairs and apartment makeovers, which was completed in November 2013. In addition, Ytech led a community initiative to beautify the backyards of all the surrounding homes, which greatly contributed to the increase of the property’s net operating income by 34 percent.
The property is well located along the west side of Maxey Road, a major north-south thoroughfare, just north of Wood Forest Drive, a major east-west thoroughfare, in east Houston. It is approximately 1.25 miles north of Interstate 10 and nine miles east of the Houston central business district, within the Northshore-Wood Forest area. Demand in the Houston multi-housing market is robust, driven by job growth throughout the region.