Chicago BTR Developer Acquires 9+ Acres For Duplex Project in Harris County

Release provided by NewQuest

With NewQuest as its land scout, Chicago-based RSK Real Estate Partners has acquired 9.37 acres to develop a build-to-rent community featuring 156 duplexes near the Market at Katy Park in Harris County.

RSK started site work on the tract the day after the closing. The to-be-named project will front the now under-construction Galileo Way, which at completion will create direct access to the region's primary local artery, Morton Road, in northwest Katy.

"It's an awesome site to kick off RSK's long-term development goal. To be quite honest, the dynamics of this location have set the developer's bar high for future land decisions," says Rick Ragan, vice president of NewQuest who partnered with Glenn Dickerson, senior vice president and development partner, to represent the buyer.

Matthew Davis and Kristen McDade of Cushman & Wakefield Inc. represented Morton Ranch Development LLC, the seller and developer of the 158,171-sf Market at Katy Park. The H-E-B-anchored retail center is fully leased while the adjacent 348-unit Oaks at Katy Park, which opened earlier this year, is in lease-up mode.

RSK's project will feature 103 three-bedroom units and 53 two-bedroom designs, averaging 1,600 sf. The developer anticipates the buildings will start to deliver in late Q2 2026.

"RSK's build-to-rent duplex project is expecting a high yield with the rents that we will be able to achieve with this specialty product," Ragan says. "There is enough demand for more rental units, given the commercial and residential growth in northwest Katy."

Single-family communities dominate the growth in the immediate area. Another 25,000 homes are on the drawing board for a neighborhood with the 100-acre Katy Park, featuring 32 baseball, softball and soccer fields, as the centerpiece.

RSK has developed for-rent projects throughout the Houston market. The developments, though, were smaller in scale.

RSK's long-term goal is to develop 5,000 build-to-rent units in five cities in five years, a strategy dubbed the 5|5|5 Initiative. The developer specializes in duplex and townhome communities, which are high quality, cost effective for middle-income renters and designed to feel like single-family homes.

"RSK has officially closed its first big deal with two other sites in escrow and multiple LOI's under negotiation," Ragan says. "Having a track record is going to be pivotal moving forward. We are all excited for the future."