Fairfield Residential has completed 1010 Waugh, a new 14-story luxury multifamily tower in Houston’s Montrose neighborhood. The high-rise adds 340 apartments to the local housing stock and stands on the site of a former single-story commercial building, which was demolished to make way for the project. Fairfield will also handle property management for the community, located at 1010 Waugh Drive.
The structure is built with concrete and steel, positioning it as a modern, high-rise entry in the Montrose multifamily market. According to reporting from Multihousing News cited in the announcement, Fairfield secured a four-year, $77,400,000 construction loan from Texas Capital Bank in January 2023 to finance the development. The delivery of the project follows that financing milestone and brings a large, newly built residential option to one of Houston’s established in-town neighborhoods.
1010 Waugh is programmed with a mix of studio, one-bedroom, and two-bedroom apartments. Unit sizes range from 539 square feet to 1,612 square feet, with an average unit size of 1,003 square feet across the property. Rents fall between $1,873 and $4,799 per month, with an average rent of $3,033, reflecting the community’s positioning in the luxury segment of the multifamily market.
The community’s ground floor is designed to support both resident needs and neighborhood activity. It includes the main lobby, coworking space, and a cyclist shop. Above the ground level, Fairfield has incorporated a broad amenity package intended to support resident lifestyle and convenience. Features include a pool deck with cabanas, a fitness center, and a sky lounge, as well as a golf simulator and dedicated conference rooms for work or meetings.
Additional resident amenities at 1010 Waugh include a game room, bicycle storage, package lockers, a dog run, and a pet lounge. These offerings are aimed at providing on-site recreation, pet-friendly features, and storage solutions within the building. Together, the amenities are designed to complement the tower’s urban location in Montrose.
Fairfield developed 1010 Waugh in partnership with designer KTGY Dallas, which contributed to the project’s design. The delivery of this tower adds to Fairfield’s existing footprint in the region, as the company already has at least 18 multifamily properties in the greater Houston area. With the completion and opening of 1010 Waugh, Fairfield expands both its local portfolio and its management responsibilities in the Houston multifamily market.
