Cresset Real Estate Partners, Fidelis Announce Joint Venture on Multifamily Development in Houston Area | PR Newswire [Video]

Nine-building, 252-unit apartment complex to be completed in Willis, Texas, in 2026

, /PRNewswire/ — Cresset Real Estate Partners today announced a joint venture with Fidelis Residential Partners, a division of Fidelis, to develop a nine-building, 252-unit multifamily community in Willis, Texas, which is in the greater Houston area. The project, named Fidelis Willis, is the latest development funded by Cresset’s third Qualified Opportunity Zone (QOZ) fund, Cresset Diversified QOZ Fund III (“Fund III”). The Fund provides private investment capital in some of the fastest-growing economies across the country with the goal of maximizing long-term capital gains for investors. Its predecessor, Cresset Diversified Qualified Opportunity Zone Fund II closed with more than $650 million in equity commitments.

The Fidelis Willis development is part of a larger community known as Moran Ranch, located along the I-45 corridor and within driving distance of major employment centers in north Houston such as The Woodlands. It is also within a recently completed HEB-anchored …