Jeb Cox Joins Quarterra as Managing Director of Development for Texas

Quarterra, a multifamily development and investment management firm, announced Oct. 28 that Jeb Cox has joined as Managing Director of Development, Texas. In the role, Cox will oversee new multifamily development initiatives across the state.

Jeb Cox's Role at Quarterra

Cox will lead a divisional team through the full development project life cycle, which includes land sourcing, entitlements, capitalization, design and construction execution, optimizing marketability and operability, lease-up and disposition, the firm said.

"The foundation of Jeb's career is multifamily development and acquisitions, and he brings a seasoned and well-rounded approach to our Texas division," said Chris Cassidy, Quarterra Executive Managing Director of Development for the Eastern U.S. "We look forward to expanding and honing our market scope under Jeb's direction, and we're bullish about our pipeline opportunities."

Cox said in a statement: "Quarterra is one of those companies that truly understands the ever-evolving multifamily marketplace and tailors its development model to meet the demands of municipalities, renters, partners and investors alike. It's an honor to join an innovative industry leader like Quarterra, and I'm eager to get to work with this exemplary team to execute our development vision in Texas."

Cox's Multifamily Development Background

Cox has nearly 20 years of experience leading the development of institutional-quality multifamily communities. Before joining Quarterra, he spent more than a decade at Mill Creek Residential. He previously worked at Trammell Crow Residential and Creekstone Partners.

Over his career, Cox has been involved in the development and acquisition of nearly 14,000 apartment homes, representing more than $2.1 billion in capitalization across all multifamily property types.

About Quarterra

Quarterra is a real estate investment firm focused on creating long-term value through the development of high-quality multifamily communities nationwide. The firm operates 12 regional offices across 20 states.

Texas Multifamily Market Context

The appointment comes as Texas multifamily markets shift from a construction-heavy expansion toward a more selective development cycle. Demand has recovered unevenly across the state's major metros.

Dallas-Fort Worth led the nation in multifamily absorption through the first three quarters of 2026, with more than 50,000 units absorbed. Austin recorded 34,000 units and Houston 26,000.

New supply is slowing. U.S. multifamily deliveries totaled approximately 250,000 units through the third quarter of 2026, down 25% from the same period in 2025. Fewer than 480,000 units were under construction nationally, equal to 3.6% of existing inventory, the lowest pipeline share since 2013.

Lease-up risk remains in Texas. Statewide vacancy was roughly 12% to 16% in the second quarter of 2026, while asking rents declined 1.1% to 3.4% year over year across major Texas markets.

Dallas-Fort Worth

The Dallas-Fort Worth market posted 6.21% vacancy in the second quarter, down from 6.84% in the first quarter but up 35 basis points year over year. Average rent was $1,480, down 1% from a year earlier. The market delivered 6,238 units in the quarter, while trailing-12-month completions fell to 27,748 units from 42,309 in 2024. Units under construction declined to 43,320, or 4.32% of inventory, well below the 8.54% peak in early 2023.

Houston

Houston's effective rents averaged $1,312 per unit in the second quarter, down 2.3% year over year, while units under construction fell 36.4% year over year to 11,756. Another Houston market measure recorded 7,008 units of net absorption, 90.9% occupancy and 13,319 units under construction in the quarter.

Outlook for Texas Multifamily Development

The Federal Reserve Bank of Dallas said concessions were expected to continue through mid-2026, with rent growth potentially resuming in late 2026 or 2027 as deliveries moderate. The bank expects declining permits, moderating deliveries and continued consumer demand to support a gradual improvement in rent growth beginning in that period.

Sources

• Quarterra press release via PR Newswire: https://www.prnewswire.com/news-releases/jeb-cox-hired-as-quarterras-managing-director-of-development-in-texas-302922165.html