HOUSTON – Rise Communities is planning a 2,700-acre master planned community near Highway 288, about 20 miles south of Houston.
The project, called Meridiana, is projected to have more than 1,300 acres for single-family home building, more than 60 acres for commercial, about 25 acres for multifamily and other significant development.
Rise Communities, based in Henderson, Nev., anticipates having Meridiana underway in 2015. The community will be located just east of Highway 288, near Highway 6 and County Road 57.
Some major players are lining up new residential projects on the 288 Corridor, which offers a straight-shot commute to the Texas Medical Center.
Also on the south side of Houston, Hillwood Communities, a Dallas-based company led by Ross Perot Jr., is developing a 1,000-acre project called Pomona near the Rise Communities’ site.
Veteran developer Larry Johnson of Johnson Development, was the key figure in creating the south Houston/Pearland market and take advantage of the Highway 288 access. In 1995, Johnson bought the unfinished Southwyck community in Pearland, renamed it Silverlake and built it out with strong sales. Prior to Silverlake, Pearland and the 288 Corridor did not have high-volume home sales. But Johnson, backed with investment dollars from Prudential, relaunched the project and focused Silverlake marketing on the easy commute offered by Highway 288 at that time. Homebuyers responded in droves.
Since then, 288 developed as a major market and numerous other developments occurred there, including the 3,000-acre Shadow Creek Ranch. Traffic and commute times have become worse since Johnson made the southern market with Silverlake.
In addition to Meridiana on 288, Rise is also developing a major community west of Houston – a 1,000-acre community called Cane Island, which broke ground earlier this month. It is located in Katy, Texas. Meridiana appears to be much more ambitious than Cane Island.