One of Houston's oldest families is planning to build a $300 million, 33-story condominium complex in the southern region of the Tanglewood neighborhood. The development is being built to help meet the high demand for housing in Houston and throughout the state. 

According to the Houston Chronicle, the complex will be built at a 1.3-acre site, located at the northeast corner of Tanglewood Boulevard at San Felipe Road. Currently, the location is the headquarters of Tanglewood Corp., which is a third-generation, family-run real estate company that has deep roots in the community. 

The company was founded by William G. Farrington in 1949. The existing headquarters would be torn down to make room for the new tower. 

“We’ve been incubating this wonderful corner for approximately 70 years," Farrington's grandson Kendall Miller told the Chronicle. "The plan has evolved over the years, but has always been the new commercial idea of the moment.”

The currently proposed condo complex will replace prior plans for a 20-story tower that planned to have 230 units. That tower was planned to be a senior living community, but had to be stopped when a lawsuit was brought against the real estate company over concerns of its impact on the community as well as the environment. 

Instead, the new development is slated to have a lesser impact on its surroundings. This building will be compatible with the neighborhood and have three levels of underground parking as an added benefit to the community, as reported by the Chronicle. 

Additionally, Miller said that the project will have only 30% of the impact on the city than the previous proposal. 

The plans for groundbreaking at 1661 Tanglewood Court are to begin in 2022, according to Miller, who also said the new development stands to be an attraction for international customers and expects to have buyers from Mexico and South America as well as from surrounding neighborhoods. 

Price ranges are upward of $3 million for 2,500- to 10,000-square-feet units, the Chronicle reported. Most units will be more than 5,000 square feet.

Tanglewood Property Group is a privately owned real estate investment and management company, specializing in office and multi-family properties.