Bridgeland, Cy-Fair’s largest master-planned community, had a record-breaking year of home sales in 2023 and, in early 2024, broke ground on the first phase of a 925-acre urban district called Bridgeland Central.
“We have much more patience than the typical developer. ... The Woodlands Town Center was built out over several decades, and I would expect to see a similar timeline [for Bridgeland Central],” said Jim Carman, president of the Houston region for Bridgeland's developer Howard Hughes Holdings Inc.
According to real estate company Opendoor, 77433 was the No. 1 “hottest” ZIP code in the U.S. last year based on the number of homes purchased within 90 days of being listed.
Over half of Cy-Fair home sales over the last six months were in the 77433 ZIP code, which includes Bridgeland, Towne Lake, Miramesa, Avalon at Cypress, Fairfield, Marvida, Bridge Creek, Mason Woods, Yaupon Ranch, Dunham Pointe, Cypress Creek Lakes and other neighborhoods.The overview
Howard Hughes Holdings Inc. broke ground on the first phase of its 925-acre town center in late February near the Grand Parkway.
Village Green at Bridgeland Central, a 70-acre project, will feature a new H-E-B opening this year; 28,000 square feet of restaurant and retail space; and a 49,000-square-foot office building—all within walking distance of multifamily housing and hike and bike trails.
“Ultimately, Bridgeland Central will be restaurants, retail, offices, hospitality, entertainment, medical—just about every use that you would imagine would create a downtown urban hub for the community,” Carman said.
Carman said Bridgeland will one day have 1.5 jobs per rooftop so residents can live and work in the community. Last August, Chevron purchased 77 acres in Bridgeland Central for a research and development campus.
In addition to job opportunities, Bridgeland is expanding education options. Harmony Public Schools is constructing a charter school in Creekland Village, and Cypress Christian School is relocating to Prairieland Village in 2025.
Local real estate experts said Bridgeland is known for its amenities, Cy-Fair ISD schools and nature focus. The 11,500-acre community has about 22,000 residents today and will be home to 70,000 at build-out.
Bridgeland sold 985 homes in 2023—up 74% from 567 in 2022, according to real estate consultant RCLCO. In RCLCO’s annual master-planned community rankings based on the number of homes sold, Bridgeland earned the No. 5 spot nationwide and No. 2 in Texas.
“We expect to sell over 1,000 homes this year, ... and it won’t end there,” Carman said.
How we got here
- August 2004: Bridgeland development begins
- October 2006: Lakeland Village celebrates grand opening
- November 2010: Howard Hughes acquires Bridgeland from General Growth Properties
- December 2013: Grand Parkway Segment E opens through Bridgeland, connecting I-10 West to Hwy. 290
- February 2016: Grand Parkway Segments F-1 and F-2 open, connecting Hwy. 290 to I-45 north of Bridgeland
- March 2018: Parkland Village celebrates grand opening
- May 2022: Prairieland Village celebrates grand opening
- October 2023: Creekland Village celebrates grand opening
- February 2024: Village Green at Bridgeland Central breaks ground
- Summer 2024: North Bridgeland Lake Parkway will connect to the Grand Parkway
- Late 2024: Mason Road will connect to North Bridgeland Lake Parkway
According to Freddie Mac, mortgage rates have ranged from 2.65%-7.79% since 2020. As of press time in early April, the average interest rate for a 30-year fixed-rate mortgage was 6.79%.
Cypress Realtor Maelia Davis said she thinks buyers are getting used to higher interest rates as home sales are picking up. As of March, she said she was busier than she was when interest rates were at record lows.
“I think there’s a lot of pent-up demand of people that held last year ... because the shock of double the interest rate kept people from going into the market. But life happens ... and people have to buy and sell,” she said.
Davis said many first-time homebuyers are purchasing and renovating older homes in Cy-Fair’s more established neighborhoods. The average home sales price in the 77433 ZIP code was $467,723 in February, according to data provided by Boutwell Properties.
Mason Woods in 77433 is poised as a relatively affordable option, said Bob Kulpinski, vice president of field operations for Taylor Morrison’s Houston division, with new builds starting in the high $200,000s. The joint venture between Tri Pointe Homes and Taylor Morrison broke ground in 2022 and is slated to have 1,400 single-family homes at build-out by 2027 or 2028.
“[Interest rates] have shot up in the last 18 months, and affordability has been more and more of a challenge—and Houston is still one of the most affordable large metro areas in the country,” he said. “So we do what we can to deliver a quality product at a price point that’s reasonable ... for today’s consumer.”
Winthrop Realty Group Principal Andrew Armour said multifamily housing values have decreased in the last two years due to increasing interest rates and property insurance rates. Because of this, he said he does not anticipate a large influx of new apartment complexes in the near future.
Instead, he said he expects to see more service-oriented developments pop up, including retail strip centers, office condos and warehouses, self-storage facilities, restaurants and car washes. Businesses that require a critical mass, such as medical facilities and specialty stores, will drive development along Hwy. 290, he said.
“Developers don’t develop anything that isn’t going to be worth more when it’s finished than what it’s going to cost to build,” Armour said.
