Connor Investment Real Estate Closes on Land Banking Deal at Esperanza.
436 Acres purchased for residential development.
Connor Investment Real Estate kicked off 2022 by closing a 436 Acre purchase for a Land Banking project called, Esperanza.
Four tracts of land located two miles south of Rosenberg, Texas along Highway 36, just 5 miles from Interstate 69 were purchased. The tracts will ultimately be developed for residential housing. Homebuilders targeted for this residential community project are well-known national homebuilders.
The southwest corridor in Fort Bend County is growing in demand but limited on supply for new vacant developed lots as competing, affordable developments have a limited amount of inventory remaining. Fort Bend County is pro-growth.
Fort Bend County was listed as the fastest-growing large county in the U.S. 2010-2018 with a current population of 787,858, which represents a growth rate of 34.7% in only eight years (U.S. Census Bureau, April 2019)
A report from the University of Houston’s Hobby School of Public Affairs predicted that Fort Bend County will wind up being the state’s third-fastest growing county from 2010 to 2050, which would be an increase of 368%.
Houston’s supply of homes for resale is tight with only 1.6 months supply vs 6.0 months supply needed for a balanced market.
Lot sizing and pricing will yield final home prices in the $200- 400k range which represents 80% of the new home market.
Connor Investment Real Estate helps developers and homebuilders secure prime locations, manage cash flow and leverage costs by working as partners with their clients to structure projects based on a client’s needs.
ABOUT CONNOR INVESTMENT REAL ESTATE
Headquartered in Houston, Connor Investment Real Estate works with residential developers and homebuilders primarily in south-central Texas to assist and provide capital structures allowing for acquisition and development of land and lots. The team’s understanding and knowledge of land development, local market conditions, and capital markets provides a unique combination of skills to assist with structuring a project.