Diminished demand isn’t stopping Johnson Development from doing its thing.
The Houston-based developer has announced it’s releasing more than 1,660 homesites on undisclosed terms to builders across six of its 15 South Texas communities between now and the end of the year, the Houston Business Journal reports.
Jordan Ranch is set to get the largest addition with 550 new sites. Eight regional builders including Chesmar Homes, Lennar, and Perry Homes are attached to build on 40- to 70-foot-wide lots— some will accommodate townhomes.
“What we have planned in Jordan Ranch is typical of a Johnson community,” says CEO Michael Smith. “It also allows residents to move up or down in a home as their needs change without leaving the community where they have put down roots.”
Harvest Green, Johnson’s 1,300-acre “agrihood” community north of Richmond, will add 452 lots by November. Lennar, Perry, D.R. Horton and six other builders are attached. Perry and Chesnar will also be building the 226 new homesites for Sienna, a 7,000-acre community in Missouri City, along with Toll Brothers, Shea Homes and Tri Pointe Homes.
Meanwhile, 203 homesites will be available for builders to purchase in Woodforest by next month. Sales in the Montgomery County community near Conroe are down 16 percent compared to the first half of 2021.
The additional homesites come at a time of slowing homebuyer demand amid record-high prices and rising mortgage interest rates. Many Texas homebuilders have announced plans to pull back building operations as they struggle to move inventory.
Regardless, Smith says Texas is still a “sought-after destination,” that has a “need for quality housing — especially in those communities that are nearing closeout.”
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— Maddy Sperling