HOUSTON – (Realty News Report) – The Land Tejas development company has acquired 856 acres of land for a master planned community with 2,500 homes in northwest Harris County.
The property is located north of FM 529, west of Fry Road and east of The Grand Parkway in northwest Harris County.
“Demand for homes in the Cypress area has been phenomenal,” said James Henrie, Chief Operating Officer of Land Tejas. “This will be our fourth master planned development in the area following the success of our Stone Gate, Canyon Lakes West and Miramesa communities.”
Henrie said approximately 2,500 homes are planned once development is complete. A name for the community has not yet been announced. The first phase of lots are slated to be delivered in 2021.
Financing for acquisition and development was provided by Trez Capital. CBA Land Capital LP is the equity partner with Land Tejas for the purchase.
“We are pleased to provide the financing to Land Tejas for the acquisition and development of this property, which is in a thriving area of Houston,” said John Hutchinson, President, central and southwestern U.S., Trez Capital.
Land Tejas communities have continuously been ranked among the top-performing communities in the nation including Miramesa in Cypress and Harmony in Spring, which was recognized for the third consecutive year as one of the nation’s 20 top-selling communities by research firm Robert Charles Lesser & Co. (RCLCO) and John Burns Real Estate Consulting.
Oct. 4, 2019 Realty News Report Copyright 2019
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