Newland Communities purchases 500 acres in Williamson County near Georgetown

Newland Communities purchased 500 acres in Williamson County near the intersection of Hwy. 29 and Ronald Reagan Boulevard for a more than 1,400 home master-planned community in late June.

"We jumped at the chance to acquire this property," said Bill Meyer, General Manager of Newland's Austin Division, in a statement. "The scenic beauty of the land and the strategic location on Ronald Reagan Boulevard, combined with the strong fundamentals of the Austin economy, make this an exciting opportunity to create a premier master-planned community."

The purchase was a joint venture with North America Sekisui House LLC, Japan's largest homebuilder, and Newland Real Estate Group LLC, whose developments in Central Texas include Teravista in Round Rock and Falcon Point in Pflugerville. The partnership closed the deal June 28.

The development will include 1,455 residential lots as well as about 167 acres for recreational amenities, parks and open space. Plans also include a site for an elementary school and a day care, according to a news release.

Plans also include a clubhouse with a gathering room and fitness center, a covered pavilion, a swimming complex and a splash area, according to the release.

The property, purchased from Leawood, Kan.–based Rancho Sienna KC LP, is in an unincorporated area in Williamson County and in the Liberty Hill School District. Plans for the community include a variety of homebuilders, home styles and price ranges, according to the release. Models are expected to open in spring 2014.

The land includes the Rancho Sienna neighborhood, including approximately 100 homes, which will be incorporated into the master planned community, Newland Marketing Director Vaike O'Grady said.

Newland Communities is also building a new section of Teravista north of Westinghouse Road in Georgetown's extraterritorial jurisdiction, or ETJ. The new section could include up to 1,000 new homes, O'Grady said.

"We're seeing a definite shift [in the market]," said O'Grady in February. "The amount of inventory that's on the ground and available for people to purchase is at a low that we haven't seen in years."