Katy isn’t done growing just yet. Another development project is headed for the rapidly expanding city west of Houston.
Long Lake Ltd. bought 494 acres at the northwestern corner of West and Katy Hockley roads for a new residential community, the Houston Business Journal reported. The development will rise across the street from the Howard Hughes Corp.’s master-planned Bridgeland community.
Long Lake picked up the land in an off-market deal. It sits across from the Paul D. Rushing Park and Katy Hockley Cricket Ground and near the edge of Prairieland, the third village in Bridgeland.
James Kadlick and Harrison Kane with Colliers Houston’s land advisory group represented the Land Lake’s development arm Woodmere Development. Rockspring Capital’s Matthew Herring represented the unnamed sellers.
“It was actually a deal that they had made an offer on, I want to say, probably two years ago, and the deal never came to fruition,” Kadlick told HBJ.
Long Lake’s planned community will join a large number of developments planned for the Katy Prairie area. Other projects include Land Tejas’ 1,039-acre Sunterra project to the south, Johnson Development Corp.’s 1,620-acre Jubilee development and Archie Dunham’s Stone Creek Ranch near Highway 290.
North of Houston, Shea Homes of Southern California, along with Houston-based builders Chesmar Homes and Perry Homes have begun work on Evergreen, a 740-acre master-planned community in the far Houston suburbs. A total of 247 homes — all built by Shea — will go up on the northwest corner of FM 242 and FM 1314, near The Woodlands and Conroe while Chesmar Homes and Perry Homes will build the remaining houses.
Woodmere’s developments include Morton Creek Ranch and a 270-acre single-family project inside the mixed-use community Beacon Hill.
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