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Nine months into the operations of the first major co-living project in Houston, the property is only about half full. But after a slow start and an early snafu involving Uniti Montrose’s management company going bankrupt and shutting down, the company is ready to turn the page and prove the city's appetite for micro-apartments is more than theoretical.
Uniti Montrose has since handed leasing responsibilities over to PeakMade Real Estate, which plans to close the gap from 55% preleased to closer to 100%. And despite being first to market and encountering a learning curve about how co-living functions, its operators believe it won’t be the only such option in Houston for long, anticipating the development will inspire others to jump on the trend a February study suggested could fill a critical housing niche and solve Downtown Houston's obsolete office issue.