In a nutshell
Rocky Gardiner, a consultant for Zonda, told trustees and administrators that the district has 31 actively building subdivisions, as well as 18 future subdivisions in various stages of planning.
In April, Gardiner said groundwork is underway on more than 1,470 lots across eight subdivisions, and there are more than 4,800 vacant lots ready to be built on within the bounds of BISD.
Both single- and multifamily housing developments are bringing thousands of new homes to the area, Gardiner said.
A closer look
New home growth also includes multifamily, Gardiner said, as 250 multifamily units are under construction. This number also encompasses 82 duplex rental units.
Two thousand future multifamily units are also in various planning stages throughout the district.
This comes as home sales in the district softened slightly with higher interest rates, but consultants at Zonda are observing “upticks” in new home starts and expect home sales to rebound.
The price of both new and existing homes, he said, doubled between 2014 and 2024, while sales declined slightly in recent years.
The number of homes sold each year increased through 2022 but has fallen in recent years.
Looking ahead
New growth is concentrated in the Colony Oaks, Emile, Bluebonnet and Mina Elementary School attendance zones, Gardiner said.
When it comes to the response of developers to changes in the local housing market, Gardiner said lowered occupancy rates in multifamily have led property managers to lower or discount rents. Single-family home developers have also begun to offer more concessions to buyers, he said.
