SPRING, Texas – (Realty News Report) – Some 940 acres has been acquired for an expansion of the Woodson’s Reserve master planned community on the north side of Houston.
The new development is a joint venture between Toll Brothers and Trendmaker Homes, a TRI Pointe company.
The additional land, which was acquired earlier this month, will create hundreds of new home building sites and acreage for recreation and amenities.
The property, which has Grand Parkway frontage, shares a long border with the existing Woodson’s Reserve.
In 2014, Toll Brothers began developing – in partnership with Cernus Development – the existing Woodson’s Reserve, which covers 692 acres, east of Interstate 45. At that time, the developers anticipated the opening of the nearby Exxon Mobil campus, which was slated to have 10,000 employees working in 3 million square feet of new office space. With the downturn in energy demand, however, Exxon Mobil announced last week that it is laying off over 700 employees in Houston, draining momentum from the local economy.
Woodson’s Reserve is located in southern Montgomery County. Homes in the new section of Woodson’s Reserve are expected to open for sale in the fall of 2022.
“The new expansion is located just east of the existing Woodson’s Reserve community. New homes will start in the low $300s and will be built by Toll Brothers and Trendmaker Homes,” said David Assid, Toll Brothers Houston Division President. “They’ll feature various home site sizes, rich finishes, modern features, and attractive floor plans—everything today’s buyers want for living, learning, working and entertaining in their homes.”
Home building has been exceptionally strong in Houston and around the nation as home buyers have been eager to take advantage of record low interest rates below 3 percent. With the increased demand and low inventory home prices have been rising.
Dec. 17, 2020 Realty News Report Copyright 2020
File; 940 Acres Acquired for Residential
Photo: Courtesy Toll Brothers
File: Woodson’s Reserve. 940 Acres Acquired for Residential Development ini north Houston. Toll Brothers. Trendmaker Homes. TRI Pointe.