HOUSTON – (Realty News Report) – Bold Fox Development, a Houston development firm led by Alex Kamkar, has acquired 215 acres in Brookshire for a new residential community about one mile north of Interstate 10.
“This property has a pastoral beauty that people wanting a country ambiance will appreciate,” said Kamkar, Managing Shareholder of Bold Fox Development.. “The fact that it is so close to Interstate 10 adds to the appeal.”
Kamkar said he expects homesites to go to builders in early 2024.
“With today’s current housing market, there is a real need for more developed land so more people can obtain the American Dream of owning a home,” Kamkar said. “Whether it’s communities of hundreds of acres or even pocket communities like Cherrywood Estates at nearly 21 acres, anything we can make available opens up opportunities for people to move into home ownership and start building generational wealth.”
Kamkar has been a critic of the Build-To-Rent trend where newly construction single-family inventory is sold en masse to investors. Critics say the Build-To-Rent siphons off inventory that could be sold as starter homes.
“I am very, very, very much opposed to build-to-rent. It is subversive to the American Dream,” Kamkar said last year on The Ralph Bivins Project podcast. “My biggest fear is when you are making homes to be rent homes we are not promoting home ownership – we are promoting de-constructed apartments. There is a place in the industry for that. But the motto my company is: “Creating a canvas for the American Dream.” The idea that I can go out there are say this is just about your payment and nothing else. But this isn’t about home ownership or the American Dream – I can’t get there. I wake up in the morning thinking about how we can put mom and dad in a better situation by having them in a home near a good school, close to their jobs. But I want the renter too have the opportunity to buy that home. This isn’t about dollars and cents at some point. At some point it’s about families and doing right thing for the country. If we are constructing build-to rent just to harvest dollars. That’s not what we are here for.”
The Brookshire Project
The Brookshire property, located west of Houston near Gassner Road and FM 362, was purchased from the Phillips family. Tommy LeBlanc and John-Michael Kamel with Avison Young represented Bold Fox Development. Handling the transaction for the seller was Tracy Gerken with Tejas Properties.
The community is within the Royal Independent School District.
“Because of its small size, this is a school district where everyone knows each other and students have more opportunities to play sports, play in the band and participate in other extra-curricular activities,” Kamkar said. “I think parents will appreciate that.”
This is the fourth community for Bold Fox Development, which launched in 2019. Venetian Pines in Conroe is selling homes in its first phase, and Kamkar said the second phase of the 45-acre community should open by year’s end. Cherrywood Estates in Tomball starts construction next month. And the 470-acre Attwater community in Waller should break ground during the fourth quarter. Bold Fox is partnering with Chesmar Homes, Empire Communities and HistoryMaker Homes on Attwater.
April 26, 2022 Realty News Report Copyright 2022
Image: Courtesy Bold Fox Development
File: Bold Fox Starting Community Near Houston
File. Alex Kamkar .Bold Fox Starting Community Near Houston. Brookshsire