HOUSTON – (Realty News Report) – Taylor Morrison Homes of Texas has acquired 165.7 undeveloped acres located on Betka Road south of Highway 290 in Hockley.
The seller, a local rancher and landowner, was represented by Chris Hutcheson, James Kadlick and Harrison Kane of Colliers.
“This tract, strategically located off US 290 and adjacent to Johnson Development Corporation’s newest master-planned community, Jubilee, had considerable interest from numerous single-family residential developers and builders,” said Chris Hutcheson of Colliers. “Taylor Morrison was ultimately selected and did an exceptional job navigating the entitlement process, allowing them to close and bring much-needed homes to the area. While many commercial real estate sectors have slowed, the Land Advisory Team at Colliers has seen single-family residential development tracts remain very active with strong demand.”
Texas has gained a significant number of new residents as people have relocated to the Lone Star State from California and other coastal markets.
Taylor Morrison’s 165.7-acre property is located within Waller Independent School District in Harris County.
We’re extremely excited about the opportunity to expand our footprint in this high-growth market area. Our future homes will feature contemporary farmhouse elevations and highly coveted designs, including flex rooms and 2-story homes with two beds down,” said Richard Bautista of Taylor Morrison Homes.
Houston and Dallas have consistently been the top two markets in the nation for homebuilding, a trend that has prevailed for a decade.
In 2022, Houston led the nation in single-family building permits with 45,584 construction permits, followed by Dallas with 41,437, according to recent stats from the U.S. Census Bureau.
“The demand in Texas is driven by population growth,” said National Association of Home Builders chief economist Robert Dietz, speaking at a press conference last year in Las Vegas.
As the nation’s seventh largest homebuilder, Taylor Morrison has acquired and developed land throughout the Houston area and helped create a seamless homebuilding experience for their homebuyers. In the last few years, Taylor Morrison has closed on over 1,500 acres and plans to build 5,000 future homes in the Houston area.
Jan. 18, 2024 Realty News Report Copyright 2024
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