HOUSTON – (Realty News Report) – Bold Fox Development, a Houston-based development firm led by Alex Kamkar, has purchased 215 acres in Brookshire to build a new residential community roughly one mile north of Interstate 10.
“This property has a pastoral beauty that people seeking a country ambiance will appreciate,” said Kamkar, Managing Shareholder of Bold Fox Development. “The fact that it is so close to Interstate 10 adds to the appeal.”
Kamkar said he expects homesites to be available to builders in early 2024.
“With today’s housing market, there is a real need for more developed land so more people can achieve the American Dream of homeownership,” Kamkar said. “Whether it’s large communities spanning hundreds of acres or pocket neighborhoods like Cherrywood Estates at nearly 21 acres, making land available creates opportunities for people to move into ownership and begin building generational wealth.”
Kamkar has been an outspoken critic of the build-to-rent trend, in which newly constructed single-family homes are sold en masse to investors. Critics contend that build-to-rent diverts inventory that could otherwise be offered as starter homes for buyers.
“I am very, very, very much opposed to build-to-rent. It is subversive to the American Dream,” Kamkar said last year on The Ralph Bivins Project podcast. “My biggest fear is when you are making homes to be rent homes we are not promoting homeownership – we are promoting de-constructed apartments. There is a place in the industry for that. But the motto my company is: ‘Creating a canvas for the American Dream.’ The idea that I can go out there and say this is just about your payment and nothing else — that isn’t about homeownership or the American Dream. I can’t get there. I wake up every morning thinking about how we can put mom and dad in a better situation by having them in a home near a good school, close to their jobs. I also want renters to have the opportunity to buy that home. At some point this isn’t just about dollars and cents. It’s about families and doing the right thing for the country. If we are constructing build-to-rent just to harvest dollars, that’s not what we are here for.”
The Brookshire Project
The Brookshire property, located west of Houston near Gassner Road and FM 362, was purchased from the Phillips family. Tommy LeBlanc and John-Michael Kamel with Avison Young represented Bold Fox Development, while Tracy Gerken with Tejas Properties handled the transaction for the seller.
The planned community lies within the Royal Independent School District.
“Because of its smaller size, this is a school district where people tend to know one another and students have more opportunities to play sports, participate in band and engage in other extracurricular activities,” Kamkar said. “I think parents will appreciate that.”
This marks the fourth community for Bold Fox Development, which launched in 2019. Venetian Pines in Conroe is currently selling homes in its first phase, and Kamkar said the second phase of that 45-acre community should open by year’s end. Cherrywood Estates in Tomball will begin construction next month, and the 470-acre Attwater community in Waller is expected to break ground during the fourth quarter. Bold Fox is partnering with Chesmar Homes, Empire Communities and HistoryMaker Homes on Attwater.
April 26, 2022 Realty News Report Copyright 2022
Image: Courtesy Bold Fox Development
File: Bold Fox Starting Community Near Houston
File. Alex Kamkar. Bold Fox Starting Community Near Houston. Brookshire