Renovations underway to turn Concord Homes into Verandas of Beaumont

The Estes Companies continues to grow their multifamily portfolio with the acquisition of newly-named Verandas of Beaumont Apartments located at 2020 Cottonwood in Beaumont. Formerly the Concord Home Apartments owned by the Beaumont Housing Authority, The Estes Companies will completely renovate the 100-unit property with modern amenities, interior design updates, and community-focused management services.

The Estes Companies closed on the Beaumont property on Dec. 28, and the 18-month phased renovation will begin this month, with the first move-ins anticipated in late March. The phased renovation plan will allow The Estes Companies to provide the exceptional management service the community has come to expect from the developer while also guaranteeing a timely process for completing updates throughout the building.

President and CEO Andrew Estes entered the multifamily arena as an investor in 2014 when he purchased and fully renovated Bluebird, a shuttered 70-unit property in Baytown. In 2016, Estes acquired two adjacent complexes totaling 158 units – Terrazzo and Mosaic– in Beaumont. The grand rehabilitation of the smaller Terrazzo project was completed in 2017, and phased work at the larger Mosaic began in 2018 and was completed in 2020. Estes acquired a third Beaumont property – Broadway with 52 units – in 2019. Renovations are underway and slated for completion in 2021.

Verandas will feature floorplans ranging in size from one to four-bedrooms, making the property an excellent choice for potential renters of all kinds, such as new or growing families. All units come pre-wired with high-speed internet access, making that aspect of the move-in process “hassle-free” for new tenants. Community amenities include expanded playgrounds to accommodate wider age groups of children, a dog park and picnic and grilling areas.

“2020 was without a doubt a challenging year for so many, and like most people, we found ourselves reevaluating and pivoting how we work along with the rest of the world,” said Estes. “Now more than ever, we're proud of the growth mindset everyone has adapted when it comes to offering virtual tours and digital management software at each of our properties. These initiatives have made renting and communicating with us easier for tenants and have provided the added benefit of fostering an online community.”

Estes continued, “The Beaumont community has been very welcoming to us, and we look forward to introducing our fourth property, Verandas, to them soon.”

The Estes Companies, located at 12930 Dairy Ashford, Suite 401, in Sugar Land, oversees a multifamily portfolio with additional areas of expertise in construction, asset management, and property management. For more information, call (281) 242-0455 or visit estescompanies.com.