Chicago Developer RSK Real Estate Acquires 9 Acres in Katy for Build-to-Rent Duplex Community
Chicago-based RSK Real Estate Partners has acquired 9.37 acres in Fort Bend County, setting the stage for a 156-unit build-to-rent (BTR) duplex development near Katy Park—one of northwest Katy’s busiest recreational destinations.
The land, situated at the northeast corner of Katy Hockley Road and Morton Road, is part of a rapidly developing corridor anchored by the fully leased Market at Katy Park retail center and neighboring residential communities. The acquisition was brokered by NewQuest Properties on behalf of the buyer.
“It’s an awesome site to kick off RSK’s long-term development goal. To be quite honest, the dynamics of this location have set the developer's bar high for future land decisions,” said Rick Ragan, vice president at NewQuest. Ragan partnered with Glenn Dickerson, senior vice president and development partner, to represent RSK in the deal.
The duplex project will front the under-construction Galileo Way, which is expected to connect directly to Morton Road, a major local thoroughfare. Site work began the day after the land closing, according to NewQuest.
Matthew Davis and Kristen McDade of Cushman & Wakefield represented the seller, Morton Ranch Development LLC, the entity behind the adjacent Market at Katy Park, a 158,171-square-foot H-E-B-anchored center. Next door, the recently opened Oaks at Katy Park apartment complex is currently leasing its 348 units.
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RSK’s forthcoming community will consist of 103 three-bedroom and 53 two-bedroom duplex units, each averaging about 1,600 square feet. First units are projected to deliver by late second quarter of 2026.
“RSK's build-to-rent duplex project is expecting a high yield with the rents that we will be able to achieve with this specialty product,” Ragan said. “There is enough demand for more rental units, given the commercial and residential growth in northwest Katy.”
The development is RSK’s largest in the Houston area to date. The firm has previously completed smaller BTR projects in the market. The Katy site is the latest step in what RSK calls its "5|5|5 Initiative"—a plan to build 5,000 units in five markets over five years. Targeted regions include Houston, Dallas, San Antonio, Raleigh, and several cities in Florida.
“RSK focuses on developing duplex and townhome developments that give the renter the same feeling as a single-family home. We endeavor to provide a house that a renter feels ownership over. Our success is measured by the communities that are created out of the houses we build,” the company stated.
According to the developer, its model emphasizes cost efficiency through streamlined construction processes, standardized design, and site selection near community amenities. The company describes its projects as targeting middle-income renters and the so-called “missing middle” housing segment.
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“The 5|5|5 Initiative is our driving focus; a simple but ambitious target of delivering 5,000 units in 5 different markets over the next 5 years,” RSK noted. “By focusing our efforts toward providing housing for the ‘missing middle’ we’re able to provide our investors with outsized returns while also helping alleviate a nationwide housing crisis for middle-class America.”
In addition to the duplexes, the surrounding area is set to see continued growth. Katy Park, a 100-acre public complex with over 700,000 annual visitors and 32 athletic fields, is at the heart of a residential expansion that includes plans for an estimated 25,000 new homes in the region.
“RSK has officially closed its first big deal with two other sites in escrow and multiple LOI’s under negotiation,” Ragan added. “Having a track record is going to be pivotal moving forward. We are all excited for the future.”
The project adds to a growing portfolio of build-to-rent communities in Greater Houston, reflecting national trends in alternative housing options amid rising home prices and shifting lifestyle preferences.
Stay with My Neighborhood News for ongoing coverage of major development and real estate projects across Fort Bend and Greater Katy.
Tiffany Krenek has been on the My Neighborhood News team since August 2021. She is passionate about curating and sharing content that enriches the lives of our readers in a personal, meaningful way. A loving mother and wife, Tiffany and her family live in the West Houston/Cypress region.
