In 2013, the final pieces of Sienna Plantation began to fall into place with the opening of its newest communities off Sienna Ranch Road featuring 16 model homes. As the master-planned community nears build-out, Hillwood Communities sold 3,700 acres of a new section—Sienna South—to national luxury home builder Toll Brothers for residential development.
"With Houston's well-publicized shortage of available home sites in premier master-planned communities, we believe the project's timing, Sienna Plantation's stellar reputation, our experienced management team, excellent location, amenities, and highly rated schools will attract home builders and homebuyers across the price-point spectrum," said Karl Mistry, Houston Division president with Toll Brothers.
New rooftops
Sienna South is zoned for up to 10,000 single-family homes. Toll Brothers—in conjunction with global real estate private equity firm GTIS Partners—is expected to develop 6,500 homes—valued at about $2.6 billion in home sales once complete. New homes and lots will be sold to other builders. As development progresses, Toll Brothers may acquire up to 1,750 lots to develop and sell homes.
With site improvements slated to begin this summer, and sales to home builders expected to begin in late 2014, the first home sites should be available for purchase by spring 2015.
