Camden MidTown – Houston

A key for the revitalization of the Midtown District of Houston is the 337 Units at Camden MidTown. The project sits across from, and a good number of the units will have views over the new, hopefully soon to be constructed Midtown Park. In addition, Camden has announced they are moving forward soon with the long anticipated next phase of redevelopment of the Super Block which will expand this block and link it directly to the Metro stop. This will be the first project in Midtown that will actually link directly to the Metro stop. Although when they first started the project, location was not what it is today; location of the project is a key factor in the success and long term viability of this project. Although it is nice to see mixed use with first floor retail (when it works!), I would expect that would have been a loser on this deal if developed in the original plan. The project is just a big box, no real creativity or unique design that hasn’t been done a ton of other places, but it is very dense, seems to be built with quality, and has great finishes and an incredible amenities package.

I am amazed by the sheer scale of the amenities centers and their multiple features in some projects today. Everything is bigger in Texas, (I just visited a project with a lazy river and bar in their pool!) However, more importantly for this project, at the it was built, Midtown was not where it is today. So, Camden had to ensure they could offer their residents what they needed on site. Camden taking the risk in this neighborhood at that time is one of the best things about this project; it was a big catalyst to be able to develop the other projects in the area. I would like to believe that Camden’s risk in these urban markets is part of the reason that they have posted some of the largest returns of its publically traded peer group over the last few years. However, I am sure some of that has to do with their concentration in some of the best gaining areas of the country like Dallas and Houston. Regardless, I hope that Camden continues to try to implement these types of projects in more transitional urban areas, and I believe they will be financially rewarded for those risks if they do.