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Building Boom!

As newcomers attracted by the area’s economy flock into Houston, its inventory of available housing shrinks—driving up property prices, and rent. (“Just unbelievable,” says Apartment Data Services’ Bruce McClenny, who notes already-skyrocketing rents will tick up another 6 percent citywide this year, and more in the hottest ’hoods.) No wonder that developers of multi-unit residential buildings see opportunity. There are at least 65 mid- and high-rise apartment complexes, luxury condo buildings and mixed-use facilities under construction or breaking ground soon. Mixed-use pioneers CityCentre and West Ave are expanding as newbies High Street in Highland Village and Hanover Rice Village open; at least 10 others are in the works. That’s in addition to many traditional condo and apartment developments. Here's how the boom breaks down.

From Montrose to Memorial and all the way to the Goof, Houston real estate has never been hotter. Click here to read more about what’s selling, who’s buying and what’s next in the most sensational sellers’ market in America, all in the digital edition of Houston magazine.