Addressing the need for workforce housing in Texas and beyond, Mill Creek Residential has launched its attainable housing apartment brand, Beckett by Mill Creek, and leasing is underway for its first community, Beckett Cottingham in Houston.
“The motivation behind the launch is a simple one: There is a tremendous need and demand for attainable rental housing in the U.S. The Beckett by Mill Creek brand will help meet this demand with communities that offer both a reasonable rent and a high-quality living experience,” says Darren Schackman, chief investment officer, Mill Creek Residential. “Residents at Beckett by Mill Creek communities will be middle-income earners, including many individuals who keep our cities running. We’ll be giving these renters the option to relocate to new product in great locations near their work.”
In south Houston, Beckett Cottingham spans 16 acres and features 360 apartment homes ranging in size from one- to two-bedrooms with an average of 1,026 square feet. The apartments include wood-plank style flooring; 9-foot ceilings; stainless steel appliances; electric ranges; granite countertops; kitchen islands; 42-inch custom cabinetry; central heating and air; walk-in closets; full-sized in-home washers and dryers; and linen closets and tile shower surrounds in bathrooms.
Residents of Beckett Cottingham will have access to a 5,000-square-foot clubhouse, a swimming pool, an outdoor kitchen, a grilling area, a fitness studio, a conference room, a dog park, and rentable private garages.
“We’re excited to launch our newest addition to the Mill Creek family of brands and believe Beckett Cottingham will serve as a tremendous first addition to our attainable housing portfolio,” says Jeb Cox, senior managing director of development, Mill Creek Residential. “Demand for quality housing has increased as the area continues to grow and with the multitude of surrounding employment opportunities, and we’re eager to help address that demand with this exciting new community.”
In order to develop attainable housing for those who make 60% to 80% of the area median income, Schackman says the difference between Beckett by Mill Creek and upscale Modera by Mill Creek includes fewer floor plan options to keep costs down in the design phase and reduce building material costs. “While both Modera and Beckett communities may feature Energy Star stainless steel appliances, the Beckett brand will likely not include such high-end, in-home features as ice makers in the refrigerators or web-enabled stoves,” Schackman explains. “Also, Beckett communities will still have a fitness center, clubhouse, and pool, but the common-area amenities may not be as expansive.”
Mill Creek has plans to break ground on two more Beckett communities in metro Houston in the coming year and will eventually roll out the brand nationwide.
"There is a profound need for attainable rental housing in this country, and the Beckett by Mill Creek portfolio will help meet this demand with communities that offer both an affordable and a high-quality living experience to middle-income earners," says William C. MacDonald, chairman, CEO, and president, Mill Creek Residential.
"These communities will benefit tremendously from Mill Creek's wide-ranging expertise and experience in multifamily. Together, our development, construction, and award-winning in-house management teams will build and operate best-in-class apartment homes that provide our nation's policemen, firemen, health care workers, teachers, and others with the living experience they deserve," MacDonald adds.
