29SC to Convert Clear Lake Condominiums in Metro Houston to Rental Apartments

WEBSTER, TEXAS — 29th Street Capital (29SC), a privately held real estate investment and advisory firm, has acquired Clear Lake Condominiums, a 284-unit multifamily community in Webster. The transaction is 29SC’s seventh acquisition in metro Houston. The firm plans to invest $2 million into renovations to upgrade unit interiors, enhance the property exterior and add or update resident amenities. The firm will rebrand the community as Barringer Square Apartments. The property is located on Galveston Road between NASA’s Johnson Space Center and Ellington Airport. Interior unit upgrades will include new stainless steel kitchen appliances, cabinets, countertops, backsplashes, flooring and fixtures. Exterior improvements will include new roofing, siding and paint, as well as façade repairs. The firm also plans to overhaul the leasing center and clubhouse, adding a playground, covered outdoor grilling areas and a dog park.