Mill Creek Residential to Develop Luxury Apartment Community in Houston

DALLAS, Oct. 23, 2013 /PRNewswire/ -- Mill Creek Residential, a national apartment developer, investor and operator, announced that it will move forward on the development of Premier Medical Center (Premier), a 265-unit community in Houston. Situated in the heart of the world's largest medical complex, the Texas Medical Center (TMC), Premier provides easy access to MD Anderson Cancer Center, downtown Houston, Hermann Park, Rice University and the Houston Museum District. Mill Creek expects to break ground in October, 2013, and deliver apartment homes for first move-ins in April 2015.

"Premier Medical Center epitomizes Mill Creek's strategy to develop luxury apartment communities in irreplaceable locations in markets characterized by strong household formation and job growth," said Jeb Cox, Manager Director. "No other multifamily community is as centrally located in the Texas Medical Center as Premier.  The community will offer residents the unique opportunity to walk to work and avoid the steep parking fees and congestion the area experiences.  In addition, our development expertise allows us to deliver those features and amenities package designed to appeal to today's savvy renter. We look forward to growing our presence in the Houston market and are actively seeking more sites."

Currently, Mill Creek has two other communities under construction in Houston: Sola Uptown River Oaks on San Felipe, representing 317 apartment homes, and Astor Tanglewood will offer 238 apartment homes just north of the intersection of South Post Oak Lane and Woodway near The Houstonian. Both Sola and Astor will open for leasing in 2014.

Premier at Texas Medical Center Overview

Premier's 265 apartment homes are constructed as a six-story wood frame development surrounding a concrete parking garage. The community is across the street from MD Anderson Cancer Center in the TMC. TMC comprises 52 medical, academic and research institutions and employs more than 92,000 people in more than 45.5 million square feet of office space. In addition, within one mile of the community are Hermann Park, the Houston Museum District and Rice University. Rice Village, one of the area's most iconic entertainment districts with more than 300 shops and restaurants, is less than two miles away.

The community will offer studio, 1-, and 2-bedroom apartments ranging in size from 585 square feet to 1,216 square feet. Amenities include a hotel-inspired style pool and spa, 24-hour fitness and yoga studio, resident clubroom with kitchen and business center, garage parking, and loggia with dining area. Interior features include tall ceilings, oversized sunlit windows, granite countertops, upgraded stainless appliances, custom cabinetry, wood plank-style flooring and individual washers and dryers.

About Mill Creek Residential

Mill Creek Residential develops, acquires and operates high-quality apartment communities in desirable locations coast-to-coast, including Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. While we are a national company, we immerse ourselves in our local chosen markets to proactively pursue investment opportunities through our seasoned team of real estate professionals in 14 offices across the United States. We use our deep understanding of each market, our 30+ years of expertise and a fresh, innovative approach to the apartment industry to create places where people thrive – and build real and enduring value for our investors, residents and associates.

Recognized as one of the Top 3 Builders in Multifamily Executive's Top 50 List for 2013, Mill Creek's portfolio comprised 29 communities totaling nearly 10,000 apartment homes that were operating or under construction as of September 30, 2013. For more information, visit the company's website at http://www.MCRTrust.com.

Media Contact:     Heather Campbell
                             720.583.8601

SOURCE Mill Creek Residential