Land Tejas closed on a roughly 1,039-acre parcel in late 2019 and plans to build a master-planned community with about 3,000 homes, according to a press release. The community is located near Clay and Pitts roads in Harris and Waller counties. Homesites are expected to be delivered in 2021.
Land Tejas has not announced a name for the community, according to the press release. It also has not settled on a firm site plan with lot sizes, price ranges or amenities, Haunani Shipper with Total PR on behalf of Land Tejas said in an email.
CBA Land Capital LP is an equity partner with Land Tejas in the land purchase, and Trez Capital is providing the financing, according to a press release.
Neither financial terms nor development costs were provided. However, according to the Harris and Waller counties appraisal districts, the parcels making up the property purchase have a 2019 market value of about $16.7 million.