Photo courtesy Friendswood Development Company

Friendswood Development Company is in the beginning stages of constructing a new 488-acre master-planned community to be unveiled at a June 27 groundbreaking event hosted by the Greater Tomball Area Chamber of Commerce.

Woodtrace Development, located near the corner of Hwy. 249 and Woodtrace Boulevard near Tomball, will include 840 homes in the $300,000–$700,000 price range, with build out expected by late 2018. The gated master-planned community is expected to house at least 2,500 residents and feature an estimated 18-acre lake, walking trails, parks, ponds, soccer fields and a central recreation center.

"We're excited from the standpoint [that] we think we have a great location and great access through [Hwy.] 249 and the Grand Parkway," said Tim Fitzpatrick, community development manager for Friendswood Development. "I think we're going to bring a lot of value to the Tomball area."

Friendswood Development recently bought the Woodtrace property from Richfield Investment Corporation, which previously owned the land since 1998. Fitzpatrick said the development company began making improvements to the existing three empty lots purchased from Richfield in April by adding private streets and fixing prior damage.

Home sales are expected to begin immediately since builders such as Village Builders, Ashton Woods Homes, J. Patrick Homes and Trendmaker Homes have already begun to receive tremendous interest from customers, Fitzpatrick said. The model homes on the property will not be completed in time for the groundbreaking event and are slated to open later this summer, Fitzpatrick said.

Woodtrace is located within Tomball ISD and includes a 15-acre plot for the possible development of a new elementary school. Fitzpatrick said Friendswood Development officials have contacted Tomball ISD to inform them about the property, but it is not currently on the district's plans for future development.

"[Woodtrace Development] is going to satisfy a lot of what we're looking for," Fitzpatrick said. "We are constantly looking for other [development] opportunities. We don't see anything on the horizon like a Woodtrace, but we have the ability to not only do big master-planned communities but also smaller neighborhoods."

Community members can reserve a spot at the groundbreaking celebration by visiting the chamber's website. The event is from 11:30 a.m.–12:30 p.m. on June 27 at the Woodtrace Development with lunch afterward at Pecos Grilling Co. in Tomball.