SPRING, Texas – (Realty News Report) – Toll Brothers and Trendmaker Homes, a TRI Pointe company, have acquired approximately 940 acres to expand the Woodson’s Reserve master-planned community on Houston’s north side.
Acquired earlier this month, the new land will add hundreds of residential lots as well as significant acreage dedicated to recreation and community amenities. The property fronts the Grand Parkway and shares an extended boundary with the existing Woodson’s Reserve development.
Toll Brothers originally began developing Woodson’s Reserve in 2014 in partnership with Cernus Development. That initial phase covered 692 acres east of Interstate 45 and was planned with the expectation that the nearby Exxon Mobil campus would bring substantial job growth to the area. Recent changes in the energy sector, including Exxon Mobil’s announcement last week of layoffs affecting more than 700 Houston employees, have softened some local economic momentum.
Woodson’s Reserve is situated in southern Montgomery County. The newly acquired section is planned to offer new homes for sale beginning in fall 2022.
“The new expansion is located just east of the existing Woodson’s Reserve community. New homes will start in the low $300s and will be built by Toll Brothers and Trendmaker Homes,” said David Assid, Toll Brothers Houston Division President. “They’ll feature a variety of lot sizes, upscale finishes, contemporary features, and floor plans designed for today’s lifestyles—supporting living, learning, working and entertaining at home.”
Homebuilding activity has been notably strong in Houston and nationwide as buyers sought to take advantage of historically low mortgage rates near 3 percent. That surge in demand, paired with limited existing-home inventory, has contributed to rising home prices.
Dec. 17, 2020 Realty News Report Copyright 2020
File: 940 Acres Acquired for Residential Development
Photo: Courtesy Toll Brothers
File: Woodson’s Reserve. 940 acres acquired for residential development in north Houston. Toll Brothers and Trendmaker Homes (TRI Pointe).