KATY, TX (Covering Katy News) - An apartment developer plans a 420,000-square-foot complex with 14 three-story buildings and a clubhouse in the Elyson master-planned community in unincorporated Katy, Harris County.
The Milestone at Elyson Apartments will be at 7227 Elyson Exchange Way, off Freeman Road, near the Grand Parkway — the number of units were not revealed by the developer in the Texas Department of Licensing and Regulation filing.
Construction is expected to begin in October, with completion estimated for summer 2025. According to the filing, the estimated cost of construction is $77 million.
The project was filed by Cypress Residential LP, a subsidiary linked of El Paso-based developer Bohannon.
According to Transwestern, Katy has the fifth-highest average rents in Greater Houston, averaging more than $1,500. That is 20 percent more than the Houston region's average.