Starwood Land, a subsidiary of Barry Sternlicht’s Miami-based Starwood Capital Group is developing a sprawling master-planned community near the Houston suburb of Fort Bend County.
Starwood Land is expected to complete the first phase of the 2,000-home Starbridge community by 2023, according to a Houston Business Journal report.
Land Tejas will lead the development of Starwood Land’s new 933-acre Starbridge community. The company is one of Houston’s largest real estate developers. In recent years, Land Tejas has been known for its lagoon-anchored exurban communities, which feature man made lakes with turquoise water surrounded by white sand beaches.
Starwood Land took a majority stake in Houston-based Land Tejas late last year, including 10 Houston-area communities, 16,000 residential lots and other commercial assets.
Land Tejas has developed two subdivisions — Balmoral in Katy, Texas, and Lago Mar in Texas City, and has two more — Sierra Vista and Sunterra — currently under construction. Balmoral, was the first community in Houston to feature a lagoon and is one of the top-selling subdivisions in the Lone Star State.
It’s not clear if Starbridge will also feature a lagoon like Land Tejas’ other developments.
Also unclear is whether Starbridge will have any build-to-rent single family homes, which Starwood Capital holds in its portfolio, and have been on the rise in Texas’ suburbs and exurbs.
The new master-planned community will be located more than 40 miles from downtown Houston, and continues the push by regional and national developers to stretch out into the city’s exurbs.
Land Tejas has previous experience developing in Fort Bend County, with its 500-acre Canyon Gate at the Brazos community.
Starwood and Land Tejas have not yet selected homebuilders or price points, John Brian, Starwood Land’s east region president, said in a press release.
[Houston Business Journal] – Karn Dhingra