Construction is Still Booming in Texas!

NORTH TEXAS

Builders in North Texas started construction on 14,217 units in the first three months of 2024

This marks a 44.7% improvement from last year.

Megatel Adds Its Fourth Lagoon-Centered Neighborhood in Anna

Megatel Homes LLC hosted a groundbreaking ceremony for AnaCapri in Anna in early April.  The $1 billion residential community in north Collin County will feature a massive lagoon as its focal point. Megatel intends to build approximately 400 additional residences by year’s end as part of its second phase of a comprehensive development plan. Over the next five years, the plan calls for up to 2,000 single-family residences and over 600 multifamily units to be built in the northern Collin County community.   Average single-family home prices in the community currently range from $480,000 to $500,000.

Megatel’s Windsong Ranch is another of its lagoon-style communities in Prosper.  There, the 2,000-acre community includes over 3,000 single-family homes, four unique amenity centers, four schools, two fire stations and over 600 acres of green space, parks, creeks, trails and amenities. Megatel has also outlined plans for several more lagoon-focused developments across North Texas, including the Bellagio in Forney, Sicily in Princeton and SoHo Square in Trinity Groves.

McKinney adds 74 acres to city limits for townhome, multifamily development

Hijo LTD and Sutton Fields Investments LLC, plan 600 multifamily units and 140 townhomes for the annexed site located on FM 1461, near the future intersection at Stonebridge Drive.  It is just east of FM 2478 and adjacent to the site of master-planned Aster Park.

Huffines is Busy in the South

The 1,400-acre Solterra master-planned community in Mesquite welcomed its first residents with a ribbon-cutting ceremony in April.  So far, Solterra has 67 homes completed and an additional 83 residents set to move in by the end of the year. A team of 13 builders including First Texas Homes, Brightland Homes and Historymaker Homes are constructing homes in Phase 1, with prices currently ranging from $350,000 to $750,000.  Phase one of Solterra will deliver about 750 homesites. The 10-year project is expected to bring roughly 10,000 new residents to the city. This makes it the largest housing development in Mesquite’s history.

Huffines also plans a 2,010-acre community called Lakesong in Grand Prairie and Midlothian. It is set to feature roughly 3,000 single-family lots, about 2,000 multifamily units and 37 acres of mixed-use development. 

Landsea’s Acquisition of Antares Homes Expands it Texas Stronghold

Landsea Homes finalized its previously announced acquisition of Antares Homes, a Tarrant-County based builder. With the closing of the $242.5 million merger, Landsea is taking a further step to become “one of Texas’ top home builders,” a stated goal for the company since relocating its headquarters to Dallas in 2023, states Builder magazine. 

Antares is building homes in 19 communities at 13 locations throughout the Dallas-Fort Worth area, including Fort Worth, Burleson, Crowley, Forney, Granbury, and Midlothian. The transaction also adds 2,254 owned or controlled lots to the Landsea Homes portfolio.

Landsea has also built a strong presence in the Austin marketplace and said it will continue to explore other potential mergers and acquisitions in Texas. 

Westlake Approves 51-lot Luxury Home Development

More than a year after the plan was submitted, the Westlake City Council has finally given the green light to developer Frank Bonilla.  A 51-lot housing development on a 15.2-acre tract of land  in Westlake is planned.  Westlake Catalon is located off Solana Boulevard, between Cortes Drive and Campus Circle on the parcel formerly known as the CoreLogic property within Westlake’s Entrada area.  The minimum house size will be 3,600 square feet with an estimated pricing between $2.4 million and $4.5 million, according to city documents.

West Fort Worth’s Walsh Adds Another 339 homes

Each new phase is an affirmation of the vision that was set out for this community since the 7,200 acre community at the intersection of Interstates 20 and 30 in West Fort Worth began in 2017. 

The 1,600 acres currently under development for Walsh’s residential use are part of a partnership between Walsh Companies and Republic Property Group.  The newest home community will be added on the west side of the development along Walsh Avenue. Homesites will expand the Overlook Park and Lake Park neighborhoods.

Home builders involved in the expansion include David Weekley, Drees Custom Homes, Highland Homes, Toll Brothers, Village Home and GFO Home. Pricing is expected to start in the $400,000s for townhomes. And it will exceed $1 million for custom homes on larger lots.

This latest expansion is the third for Walsh since the beginning of 2023. The Brook Hollow neighborhood opened in February 2023 with 224 lots, followed by The Village neighborhood with 138 lots.

The Top 10 Fastest Growing Cities In Texas include 4 North Texas communities. Little Elm at #4, Burleson at #6, Frisco at #8 and Rockwall at #10.

AUSTIN

The Austin Metro Area is Experiencing a New Construction Boom

The Austin metro issued 35,368 building permits over the past 12 months.  That’s more than any other area in the country.  The Top 10 Fastest Growing Cities In Texas include three Austin suburbs. Georgetown is #1, Kyle #2 and Leander #3.  Nearby, the Central Texas town of Temple also made the list at #9.

Ashton Gray Development Will Build over 5,300 single-family homes in the Austin Suburbs

The Houston-based developer has plans on its books to build thousands of new homes across Elgin, Manor, Hutto, Leander, Jarrell and Lockhart.  The developer said it starting acquiring land in the Austin metro several years ago even before the buying frenzy happened after the Tesla factory was announced. 

In Elgin, Briarwood is a 205-acre community where it plans 772 single-family homes and 182 townhomes.  Just west of Elgin in Manor, Newhaven is another 94-acre Ashton Gray community where 278 single-family homes will be built by Chasmar, Brighland and Westin Homes.   Ashton Gray’s Hutto project, named Limmer Loop, will include 205 single-family homes along with 200 townhomes and 300 multifamily units.

In the booming north suburb of Leander Ashton Gray will partner with Toll Brothers and SVAG Construction on Woodland Estates, an 86-home community spanning 120 acres.  Moving further north another 1,380 single-family homes will be built in Highland Creek, a 519-acre development planned in Jarrell.

South of Austin, JK Ranch, a 920-acre community in Lockhart will feature over 2,000 single-family homes, 13 acres of apartments and another 13 acres of build-to-rent homes. 

Austin suburb of Cedar Park among the “10 Cheapest Places to Live in Texas in 2024.

Median home price in Cedar Park is $258,200.  Average rent for a 1-bedroom apartment is $1,150. Median household income is $96,612. (according to data collected by Noranda Real Estate Investments).

Taylor Morrison will construct 1,461 new houses on 427 acres in far East Austin. 

The Del Valle development is part of a long-awaited public improvement district called Longview 71 PID. It is located along Kellam Road between State Highway 71 and Pearce Lane.  It’s about a 10-minute drive from both the Austin-Bergstrom International Airport and Tesla’s headquarters. 

2,800 homes Planned for Flora in Hutto

Empire Continental Land LP Sales will begin late this year in the first phase of 400 homes in its new Flora neighborhood in Hutto. The site is located 30 minutes northeast of downtown Austin, near Georgetown and Round Rock.  Pricing has not been released but new homes in the vicinity start from the $400s.  The new neighborhood is located just minutes from the new Samsung Austin Semiconductor plant opening this year in nearby Taylor.

Sales Underway by Toll Brothers at Headwaters in Dripping Springs

HOUSTON

Mixed-Use Developments Revolutionize Houston Suburban Living

In all of greater Houston, construction began on more than 35,000 new homes in 2023. That made it second in the country for new home starts, beaten only by Dallas-Fort Worth.

According to the Partnership’s Population Growth analysis, Houston suburbs experienced the most growth last year. Montgomery and Fort Bend Counties boasted the second and third highest level of domestic migration in the region.

In Cypress, Bridgeland, a nearly 12,000-acre master-planned community has contributed to the city’s unprecedented growth.

Kingwood known as Houston’s “livable forest,” is another hotspot for families. 

Katy was another Houston suburb topping the list of “hottest zip codes.”

Pearland was among the “10 Cheapest Places to Live in Texas in 2024.”  Its median home price was $267,300. Average rent for a 1-bedroom apartment: $1,200.  Median household income is $104,504, according to Noranda Real Estate Investments.