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Texas

HistoryMaker embarks on first San Antonio project

Bringing 100 homes to booming Far West Side

HistoryMaker Homes CEO Nelson Mitchell and a rendering of the Morgan Meadows subdivision
HistoryMaker Homes CEO Nelson Mitchell and a rendering of the Morgan Meadows subdivision (LinkedIn, HistoryMaker Homes)

UPDATED May 31, 11:20 a.m. HistoryMaker Homes wants to take part in the frenzied growth on San Antonio’s Far West Side. 

HistoryMaker, which has mostly developed in the Dallas-Fort Worth and Houston areas, is now eyeing the Alamo City, with a plan to build 101 homes in the Morgan Meadows subdivision, the San Antonio Express-News reported.

The city’s stable economy, growing population and affordability of land compared to other Texas cities such as Austin have drawn HistoryMaker to the area, CEO Nelson Mitchell said. San Antonio is “set up for a tremendous amount of growth over the next decade, and we want to be a part of that,” he told the outlet. He added that the firm is searching for additional land to develop nearby.

San Antonio, along with much of the nation, felt a dropoff in real estate deals over the past several months amid rising interest rates, banking fallouts and increased construction costs. Through March, the number of new building permits issued fell 34.9 percent year-over-year in the metro area.

It’s a market bifurcated by the age of the product, though, and new home builders such as Mitchell’s firm have the advantage, data shows. New home sales swung up by 26 percent through April on a year-over-year basis, compared to a 26 percent drop in sales among existing homes, the San Antonio Board of Realtors found.

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The price range being targeted by the builder for the new Morgan Meadows homes is unknown, though HistoryMaker typically builds within the $200,000 to $500,000 price range.

The firm built more than 1,250 homes last year. HistoryMaker also has thousands of build-to-rent homes in the pipeline, which have become increasingly popular in recent years. The firm is ramping up production to capitalize on the surge of new Texas residents.

“When you look at a lot of out-of-state buyers, I think they’re selling a home from where they’re coming from at a much higher price than what Texas is,” Mitchell told the outlet.

— Quinn Donoghue

This article has been updated to more accurately reference the developer, HistoryMaker Homes.

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HistoryMaker HomesNelson Mitchell
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Residential Real EstateSingle-family