Signorelli Breaking New Ground

BROOKSHIRE – (Realty News Report) – Moving into undeveloped countryside, the Signorelli Co. is developing a 365-acre community called Bluestem in Waller County northwest of Houston.

Bluestem is planned to feature over 1,300 single-family homes on various homesite sizes. The community’s natural setting will be preserved through 64 acres set aside for miles of walking trails around green space, lakes, and creeks.

As Houston continues on a pace to again the No. 2 market in the nation for housing starts (behind Dallas), land developers and home builders have migrated farther away from downtown.

The trek to the countryside also means lower land prices. And the American housing market is in an affordability crisis.

The National Association of Home Builders says 87.5 million households can’t afford to buy the median priced newhome ($417,502).

Inflation pinches the family budget and mortgage rates are rising.

The nation’s 30-year mortgage rate hit an average of 3.92 percent last week, Freddie Mac reported. And every time rates go up 25 basis points, that knocks out 1.5 million households from buying a home.

The classic Texan solution to affordability has been drive past the existing suburbs out to find cheap dirt.

So now new communities are being planned in places like New Waverly, New Caney and places near Sealy.

The new Bluestem community by Signorelli is located in the Royal Independent School District, which is headquartered in Pattison,  northwest of Brookshire near Bessie’s Bayou.

The Royal school district has a total of 2,500 students.

“Royal ISD is thrilled about the growth The Signorelli Company will be bringing to the area with Bluestem,” said Superintendent Rick Kershner of Royal ISD.  “We look forward to providing excellent educational opportunities and support to the future students of this community.”

Signorelli plans to break ground in the second quarter on Bluestem, which it describes as “master-planned community conveniently located off the beaten path, yet offers quick access to the Grand Parkway, Interstate 10 and Highway 90.”

The 184-mile long Grand Parkway, called the  longest beltway project in the nation, opened up wide sections of the Houston-area coastal prairie for development.

For Bluestem, the Signorelli plan will include a 2-acre recreation space in the center of the community.

“The community is picturesque, with wooded creeks and open green space making it an ideal place to call home,” said Jeff Dewese, Senior Vice President of Land for The Signorelli Company.

Last month, Signorelli made news by announcing plans for a 4,700-acre master planned community, near FM 762 in Fort Bend County. That project, called Austin Point, is projected to have over 14,000 single-family homes and 15 million SF of multifamily, office, medical, retail and hospitality uses.

Feb. 21, 2022 Realty News Report Copyright 2022.

The RALPH BIVINS PROJECT podcast welcomed guest Frank Nothaft, chief economist of CoreLogic. LISTEN:

Image: courtesy The Signorelli Company

File: Signorelli Breaking New Ground

File: NAHB, Freddie Mac. Signorelli Breaking New Ground in Waller County

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