HistoryMaker starts ‘build to rent’ community in Katy as part of Houston market expansion

HistoryMaker, a family-owned home builder based in Grapevine, is ramping up for expansion in both the Dallas-Fort Worth and Houston markets where it will bring its first local build-for-rent community to Katy.

The company, which builds single-family homes and townhomes under the HistoryMaker Homes brand and rental houses under its ONM Living affiliate, has acquired more than 6,000 lots across both markets in the last 15 months and aims to acquire more this year. ONM Living, launched three years ago, builds single-family detached Villas and multifamily Cottages, which combine elements of house and apartment living.

ONM Living will build 120 homes in the Villas at Sunterra, its new single-family rental development under way in Sunterra, a master-planned community by Land Tejas in the Katy area. The initial homes are expected to be available in the fourth quarter, with completion of the entire community planned by the end of 2023.

As HistoryMaker acquires land, the company looks for opportunities to offer both a HistoryMaker for-sale component and ONM Living new rental houses as communities incorporating more product types into their offerings, said CEO Nelson Mitchell. The company gains efficiencies by developing rental communities alongside their traditional homes, which average $400,000 in the Houston market.

Rents for the Villas, which are marketed to young families and professionals who aren’t ready to buy, are similar to a house payment, Mitchell said. The Cottages, which are described as higher density “horizontal apartments” with backyards, get a 25 percent premium over apartment rents.

HistoryMaker hit its stride with 331 home sales across the Houston market in 2021, a jump from 206 in 2020 and the best year since entering the market six years ago. The goal is to build 350 houses in 2022, said Mitchell, whose grandfather and great grandfather started the company in 1949.

HistoryMaker sold 1,201 houses last year across 40 communities, including seven in the Houston area. About a dozen local communities are open or in the works now.

“We have a desire to grow it to 1,000 homes a year in the next several years,” Mitchell said in reference to the Houston market. “Land is the first step in getting things in place there.”

While the pandemic propelled demand, the growth has not come without challenges as houses are taking longer to build and are more expensive due to higher land, labor and materials costs and supply chain problems.

“Our cycle times are currently running any where from 30 to 40 percent higher than what they were pre-pandemic in Houston,” Mitchell said.

The average price for a HistoryMaker home, meanwhile, rose to about $400,000, up from $300,000 prior to the pandemic, Mitchell said. Townhomes start in the mid $200,000s.

Creative offices emerge in west Houston

Houston real estate companies Pagewood and Wile Interests have teamed up to develop a The Quad, a 40,000-square-foot creative workspace community in four converted industrial buildings at 1410 Brittmoore Road in west Houston.

Austin-based Mark Odom Studio designed the renovations, which incorporate multiple size, location and workstyle options with a modern industrial edge. The venture is marketing spaces ranging from 2,500 to 40,000 square feet.

“The design strategy for the exterior will include a very dynamic graphic vinyl wrap intended to spark a moment of curiosity from the busy street, while still maintaining a modern, industrial edge,” found principal Mark Odom said in an announcement. “Our design intent is to promote social connectivity while providing a sense of place for local businesses.”

Construction on the first building is under way with planned completion in the third quarter. The Quad is near the west Houston location for The Cannon, a hub for coworking an entrepreneurs.

Instagram-worthy offices

Nan and Company Properties, a residential real estate brokerage founded by Nancy and Jose Almodovar in 2014, opened its 6,000-square-foot flagship office at 725 Yale St. in the Heights.

Located across from Heights Mercantile, the two-story building features murals by local artists, a digital production studio for in-house digital marketing, sleep pods and coworking spaces for collaboration and community events. Jose Almodovar, chief operating officer, supervised the project. The building was designed by JD Bartell Designs with Laura U Design Collective assisting with interiors.

Nan and Company, an affiliate of Christie’s International Real Estate, sold several high profile properties lately, including a full-floor penthouse condo at the Astoria and mansion with a 3,000-square-foot closet in The Woodlands.

Blood bank expands

Arch-Con Corp. announced the ground breaking on a 10,800-square-foot blood donor facility in College Station for the Gulf Coast Regional Blood Center.

Houston-based Gulf Coast Regional Blood Center provides blood and blood components to more than 170 hospitals and healthcare facilities in 26 Texas counties. The center will be built on a 3.5-acre site, on the northwest corner of Krenek Tap Road and Texas 6, and serve as a hub for mobile blood drives in the Brazos Valley.

The was building designed by Powers Brown Architecture. Taylor Wright and Neil Potter of Colliers assisted with the land transaction and project advisory services. Opening is planned in 2023.

katherine.feser@chron.com

twitter.com/kfeser

Leave a Comment

Your email address will not be published.