Cresset Real Estate Partners and Fidelis Residential Partners are developing a 252-unit multifamily community, named Fidelis Willis, in Willis, Texas, about 50 miles from Houston. This project is funded by Cresset’s Qualified Opportunity Zone Fund III, which aims to maximize long-term capital gains for investors. Groundbreaking is expected in late 2024, with completion by Q3 2026. The Houston area is experiencing rapid population growth, prompting the need for more housing. The project will be constructed by OHT Partners, expanding Fidelis Residential’s portfolio, which includes four apartment communities in the Houston area.