New Home Construction Update – Fall 2013

At the risk of sounding repetitive, everyone has been busy in the housing sector in our area. Builders in The Woodlands are running out (or have run out already) of inventory, new builds have emerged in Liberty Branch, and developers are already busy acquiring land to expand around what seems to be the mantra of the year for this community: Exxon.

There are three hot spots around the campus to highlight:

1) Benders Landing  and Benders Landing Estates – This acreage community is seeing a lot of expansion and interest, not only because you can build a home to your entire liking, but also because (a) children would attend Conroe ISD – the preferred school district for Exxon employees, based on data released earlier; (b) it has lower property taxes since it sits in Montgomery county. Asking prices for lots have gone up dramatically – about 120 to 140K per acre on average – but they tend to sit a little longer in the market (source – HAR).

2) Gosling Road – If you haven’t been by lately, you’ll be in there for a surprise. For sale signs are everywhere, both for land, mobile homes, and yes, new construction. McKenzie Park is now open with a few models up and running from DR Horton, and independent builders are snatching up land to build their own concept of a master-planned community. What we anticipate is a boom not only in residential, but also on commercial along this corridor. However, with asking prices for land at $6 per square foot or higher, be ready to pay premium for whatever project you have in mind.

3) Spring Stuebner – This is perhaps the most active corridor along the campus, precisely because of its location. Lennar and Meritage Homes have already started building (and selling!) in Sawmill Ranch, a cute neighborhood with a stocked lake/pond in the entryway, although Brighton Homes is all but sold out in Gosling Pines. All this well before Springwoods Village has lots out for sale! If you have plans to go visit the area, make sure to watch the road for construction.

 

Honorable Mention 

Kuykendahl – Lennar and other builders have started assembling and starting on projects along this busy corridor. Still attractive because of value and prices, but buyers often complain that it’s too far. From what, we’re not exactly sure.

FM 2920 – Behold the new 1960 – although we have heard this before for FM1488. Our take is that this artery will become mostly commercial build, although the residential developments will benefit from this surge. Current asking prices for lots with frontage to this highway fluctuate between 13 and 15 dollars per square foot.

 

What is The Woodlands up to then? 

They’re busy buying and assembling land in Magnolia, actually, right under May Valley, and also along the Red Bay area, to be exact. Red Bay in particular is interesting because the tracts are typically 5 acres – meaning, the development company is eyeing quite a bit of land for their next project. Our take is that they’ll invest heavily on this land to expand May Valley, so it can replicate the success they had with Creekside – here again, this is just mere speculation, but an educated guess nonetheless.

 

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About Danny Sanchez

Joining Rianne's award-winning team after a successful career as a Program and Operations Manager for a global outsourcing firm (with Fortune 100 companies as his primary clients), Danny has seen The Woodlands grow to what it has become today since 2001. An advocate for innovation and perfecting the Best Possible Real Estate experience, he understands very well that clients always come first. In his own words, "success looks like clients feel that they don't have any needs - because you've more than anticipated them."