Former lieutenant governor invests in Port Arthur apartment complex
Investors in a Port Arthur multifamily apartment complex project said site work is underway and the first occupants may move in by autumn.
Gary Davis of First Advisors, project developers from Austin, said site clearing on 13.7 acres for The Reserve at Pinewood Village began Dec. 12 at 2525 Highway 365 just west of the intersection of Highways 69 and 365.
The project backs up to 90th Street, across the highway from Nederland.
Subcontractor Dale Construction of Houston was doing site preparation Wednesday.
The project will be done in phases — there are 190 units in the first phase, 80 planned in a second phase — with the last apartments planned for completion by summer 2019. Davis said the apartment project is the first in Port Arthur in more than a decade financed with private capital and a non-subsidized loan.
Ben Barnes, former Texas speaker of the House and lieutenant governor, is part owner of the project, which he said would be a “positive” for Port Arthur.
“The devastating impact of Hurricane Harvey on this area has created an acute need for new rental housing and we are proud to address this need with our project,” Barnes said in an issued statement. “We have great confidence in the future economy of Jefferson County and the work ethic of its citizens, who make a measurable contribution to our nation’s well being.”
Barnes has participated in real estate developments in more than 30 Texas cities, but never closer to Port Arthur than Beaumont. He said he was pleased to be working in Jefferson County again.
Davis said amenities include a clubhouse with a social area and fitness center, a swimming pool and outdoor deck, a pet park, security entrance and walking and jogging trails. All apartments will have access to attached garages.
The general contractor is Brownstone Construction of Houston; the architect is Humphreys and Partners of Dallas.Read Publication