Reserves at Huntsville
Paul Hayden Developments and Connor Investment Real Estate closed on the Reserves at Huntsville, a single-family residential community in the City of Huntsville, Texas. CIRE solidified an equity investment in the community and is fortunate to be a part of this project.
The 33.22-acre development is located approximately 1 mile west of I-45 within the city limits of Huntsville which is nestled in Walker County. With a population increase of 15% since 2010, Walker County is among the fastest growing counties in the state of Texas (The Item). As families continue relocating to Texas, the Houston and surrounding areas such as Huntsville continue to grow.
Huntsville is approximately 70 miles north of Houston and the development is in close proximity to shops, employers, hospitals, schools, and Sam Houston State University.
The development will have 143 – 50’ Family Residential Lots. Lennar Homes is under contract to purchase all 143 lots in two phases of the development. Home prices will range from $200-$400K which accounts for approximately 70% of the new home market in the Houston area.
The Houston Area current vacant developed lot inventory Months-of-Supply is 9.9 months and trending lower. The lot shortage we have seen over the last few years is continuing to grow due to the slowdown in raw land entitlement.
Connor Investment Real Estate is excited to work with Lennar Homes and the City of Huntsville to bring this amazing community to life. CIRE works with developers and homebuilders to 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.