A regional builder is carving out a slice of a 3,000-acre development for hundreds of homes near Houston, one of the fastest-growing metropolitan areas in the country.
Highland Homes said it acquired 188 acres in Fort Bend County between Katy and Fulshear, Texas, for the new homes.
Global real estate firm Hines announced plans this year to partner with multiple builders as the master developer for more than 7,000 homes at the site, at the corner of Westpark Tollway and the Texas Heritage Parkway. It's about 35 miles west of downtown Houston.
The Houston metropolitan area is the second-fastest-growing region in the country, adding more than 198,000 residents between 2023 and 2024, according to the latest figures from the U.S. Census Bureau. The New York-Newark-Jersey City metropolitan area is first with more than 198,000 new residents.
Before and since the pandemic, people have moved from California and other areas to Texas in search of lower taxes and a better cost of living, analysts say. Builders are scouring the Lone Star State for lots to accommodate the resulting increase in demand for housing.
Highland said it will build the first batch of its 620 homes on lots with widths ranging from 50 to 70 feet, with construction starting in early 2027. It said it will release prices closer to the start of sales. The homes will have access to trails and parks and will be adjacent to an amenity complex Hines is planning, according to the builder.
Typically, Highland buys already-developed lots, but in this case, it will develop the land and also handle the home construction, according to Jeff Stinson, a senior vice president for the Plano, Texas-based company.
"Controlling land development will allow for a consistent supply of lots to help us meet buyer demand,” he said in a statement.
Houston-based Hines said the project is one of its largest-ever land deals for residential development. The project's other announced builders include Toll Brothers, Lennar and Beazer Homes.