“We are excited about this sale and what it means for our residents at The Groves,” Ashlar Development President Steve Yetts said. “New retail options, including the planned shops and restaurants, will add incredible conveniences and enjoyment for our residents without them having to leave the community.”
The setup
Located near Madera Run Road and Woodland Hills Road in Atascocita, the first commercial development component is expected to be completed by the first quarter of 2024, according to Dan Hatten, senior vice president of finance and investments at Ashlar Development. However, the complete build-out of the development plan by Read King is likely to be a multiyear process, Hatten said.
What they’re are saying
“[Read King has] a great track record in Houston of bringing quality commercial development to residential communities, especially the types of master plans that would fall in the same category as The Groves,” Hatten said. "In terms of starting, I don't know if there's a definitive timeline for groundbreaking, but I know those plans are a big focus of [Read King] right now, and they're very much in the works."
What’s next?
According to Ashlar Development, the focus is on creating a well-planned and well-executed commercial development that complements the residential growth in The Grove community and contributes positively to the neighborhood's expansion in Atascocita.
According to the release, there is less than 20 acres of commercial land left in The Groves until it's sold out. Ashlar Development recently sold the last of its residential land to Perry Homes; new home sales will continue until 2025.
