The Signorelli Co. plans to break ground on a new 7,000-home master-planned community in east Montgomery County by the third quarter of this year, according to a June 1 news release from the developer.

The community will span more than 3,000 acres and will be located at the intersection of FM 2090 and Daw Collins Road near Splendora, according to the news release. The Signorelli Co. announced the land purchase June 1 and plans to open the first wave of single-family homes by the end of 2023. Homes in the community are expected to sell for $250,000-$700,000.

More than 1 million square feet of land will be devoted to development for multifamily housing and office space as well as medical, hospitality and retail development, according to the news release. Once completed, the community will also have parks, trails and recreation areas.

“The community is planned to provide a unique lifestyle program for residents, encouraging them to get outside with nature,” said Mike Miller, land division senior vice president for The Signorelli Co., in a statement. “Additionally, we are confident the master-planned community amenities, interspersed within a mix of housing products, will attract a variety of homebuyers.”

The Signorelli Co. was founded in 1994 and has developments across the Greater Houston area. The developer has other projects nearby, including Valley Ranch, a master-planned community located at the intersection of the Grand Parkway and Hwy. 59.