Other apartment developers have been rushing to complete their latest construction projects. But not Camden Property Trust. Not only has the company put 2 Downtown projects on hold, CEO Ric Campo tells the Houston Business Journal‘s Paul Takahashi, it’s also dawdling as best it can on its planned 8-story, 315-unit apartment complex on the Midtown Superblock.
Writes Takahashi: “Camden has deliberately slowed work on Camden McGowen Station in hopes that construction costs will come down, Campo said. Camden plans to begin vertical construction on the apartment this fall, he said. ‘We’re going really slow on our buyout on the job,’ Campo said. ‘Hopefully we’ll be in a favorable pricing later this fall.'”
- Amid low oil prices, Camden puts brakes on Houston’s multifamily market [Houston Business Journal]
- Previously on Swamplot: Can’t Get Enough Midtown Superblock? New Video Captures Every Puddle, Blade of Grass, Mud Patch
Photo of Midtown Superblock, between Main and Travis, south of McGowen: Adam Brackman