Shea Homes Purchases 430 Acres in Montgomery County
Jan 30, 2023 • Houston Area, TX
Shea Homes® has acquired 430 acres in west Montgomery County that will be developed as a Shea-branded Houston-area community.
Joe Burke and Rob Whitaker with Houston’s NewQuest Properties represented the seller, Crown Ranch Development, LTD. Paul King with Texas Land and Commercial Properties handled the transaction for Shea Homes. The acquisition closed Dec. 20.
“This land checks a lot of boxes when it comes to residential development,” said Keith Luechtefeld, Houston Division President for Shea Homes. “It has naturally beautiful wooded topography as well as easy access to Highway 249, which now stretches uninterrupted from Beltway 8 to Highway 105.”
The community – as yet unnamed – is along FM 1486 immediately north of Crown Ranch. Luechtefeld estimates home sales to begin in 2025. Depending on the market, buildout could take about eight years. The community is anticipated to have 1,000 homes.
Luechtefeld said development of this community will uphold the Shea brand’s attributes already evident in Manvel’s Del Bello Lakes®. The builder is also developing Woodhavyn™ east of FM 1488 near this new community and the 740-acre Evergreen™ in Conroe. Sales in both communities should begin this year.
“Our business model zeroes in on quality and desirability, and this community will have both,” Luechtefeld said. “We envision that its target market will be the move-up to high-end buyer.”
Burke said Shea Homes smartly recognized the future growth potential associated with the new Aggie Expressway – Highway 249 – in acquiring one of the last large, available tracts of land in this area of western Montgomery County.
“The Aggie Expressway is the connective tissue between the Houston MSA and College Station,” Burke said. “Even with a market that’s softened over the past six months, Shea’s acquisition represents another well-capitalized developer who understands the future value of this area.”
In addition to residential development, Shea Homes currently builds in 10 Houston-area communities, with sales beginning in additional communities soon. Learn more at sheahomes.com/houston.
