The first batch of homeowners has moved into what's expected to be a development with up to 3,000 homes in one of the fastest-growing metropolitan areas of the country.
Tri Pointe Homes and Meritage Homes are among seven homebuilders with houses under construction in the 408-lot first phase at Flora in Hutto, Texas, a city of about 39,000 people northwest of Austin, according to master developer Precedent Land Co. Prices range from the mid $300,000s to the high $600,000s.
The project is one of about a dozen announced in recent months by developers who seek to add rooftops to accommodate demand across the Lone Star State.
The Austin metropolitan area is the seventh-fastest-growing region in the nation. It added more than 50,000 residents from mid-2022 to mid-2023, according to the latest data from the U.S. Census. Dallas led all metropolitan areas with about 152,000 new residents.
Tri Pointe has construction underway at two other Austin-area developments known as Park Central in Georgetown, Texas, and Lagos Reserve in Manor, Texas.
“As the Austin area continues to grow, communities like Flora will play an essential role in fostering a strong sense of home, both inside and outside the front door,” said Bryan Havel, division president of Tri Pointe Homes Austin, in a statement.
Before the pandemic, people were moving from California to Texas in search of lower taxes and a better cost of living, according to Brad Hunter, founder of the Hunter Housing Economics consulting firm in West Palm Beach, Florida.
"During and since the pandemic, that trend has gone into overdrive," Hunter said in an interview recently.
The median single-family home price in Hutto at the end of February was $385,000, unchanged from a year ago, according to Homes.com. Eight of 10 residents are homeowners, the data shows.
A second phase will be ready for homebuilding in the first or second quarter of 2026, according to Precedent. The company said it would take about a decade to build out Flora. The other homebuilders are Perry Homes, Highland Homes, Empire Communities, Brightland Homes and Westin Homes.
