Austin Alvis Of NewQuest Properties Acquires 18.5 Acres Development Site In Katy
Building Size
—
Asset Type
Development Site
Closing
May 4, 2026
AI
NewQuest Properties acquired an 18.5-acre development site located at the southwest corner of Morton & Porter Road in Katy. The project will feature a mix of retail and residential components, encompassing nearly seven acres allocated for retail and pad sites as well as 11.8 acres dedicated to 334 Class A residential units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: Southwest Corner of Morton & Porter Road
- Market: Katy
- Acres: 18.5
- Buyer: Austin Alvis
- Buyer Agency: NewQuest Properties
The multifamily portion of the project will be constructed by Pelican Builders Inc., with construction set to commence in 2027 and phased deliveries beginning in 2028.
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93