Houston Apartments

Will Older Apartments in Houston be compelled to compete with the New Counterparts being constructed by refurbishing their Interiors?

Not only has the city of Houston been the scene of a major increase in the construction of new apartments, but this has been seen happening even in outlying areas like Kingwood, The Woodlands and Katy. Newly constructed apartment homes have replaced older apartment complexes which were demolished. Taking advantage of the decrease in vacancy rates, several older blocks of apartment homes have embarked upon extensive refurbishing programmes. Hardwood floors, tiling and granite counter tops are amongst the latest amenities that have been introduced into these upgraded Houston apartment homes.

Both developers and proprietors are aware that even apartment homes need to be refurbished before their shelf lives are effectively said to have expired, so that they could position themselves to compete with new apartments. Units that are as young as just ten years old are noted these days to have been subject to some measure of refurbishment. In the current market, the newer apartments are constructed with several top of the range amenities that in times past were used only for luxury units or townhouses. Many of such new apartment homes boast open style kitchens that are seen in island type dwellings, and are fitted with stainless steel appliances as well as granite counter tops. Quite a number of such appliances are termed ‘green’. This indicates that non renewable power sources including electricity will be less utilised. Those who are renting in today’s world tend to be conscious of the environment and are interested in contributing towards conserving it.

At the intersection of San Felipe and Voss is the new apartment complex called Fairmont San Felipe, which serves as an example of a block that contains both residential quarters and a commercial section. The older apartment complex that occupied this same location was burnt down to the ground. Making the best of the situation, developers built a 359 unit apartment complex built to the highest standards. The whole of the first level is used for the commercial section. The residential section includes non carpeted flooring, internet library, luxurious pools and an up market fitness centre.

If not refurbished, the Wood way Square complex of apartments just across the street which was built in 1992 could expect to face tough competition in the future. If the percentage of renters attracted by Fairmont San Felipe is higher, the Wood way Square might possibly have to consider the upgrading of their interiors.