This article was featured in the September 19, 2014 issue of Real Estate BizNow.
ZG Companies prez Lee Zieben is scared by all the focus on luxury (at some point, salaries won’t be able to keep up with rents), so he’s building quality product that targets middle- to lower-income residents. (For example, he’s working on a LEED Platinum 160-unit project now that’s affordable but with the same high finishes as Class-A communities.) He especially sees development opportunity in Lake Jackson/Freeport—the plants there are expanding with high-paying jobs, but many employees are commuting infrom Pearland due to the shortage of housing.
