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    Nature Townhomes

    New townhouse community centered around a 300-year-old oak tree: Houston's nature development?

    Barbara Kuntz
    Barbara Kuntz
    May 7, 2014 | 1:25 pm

    Construction of a proposed seven-house, eight-townhome residential community with lots starting in the $800,000s near the Westmoreland Historic District is set to begin late this summer, according to the builder. The ambitious plans include a public park centered around an estimated 300-year-old oak tree that stands at the site.

    Recently renamed Masterson Oaks at Westmoreland in tribute of the former estate that once occupied the property and in honor of the enormous tree, the 36,139-square-foot property is located on the northwest corner of Alabama and Southwest Freeway or Spur 527. Frontage includes 244 feet on Spur 527, the largest border for the site. More frontage of 180 feet will be on Marshall Street and 104 feet on West Alabama Street.

    The Masterson house was demolished around 1959 to make way for the spur.

    "The tree is one of the 10 oldest in Houston. It takes up about one-third of the lot. Our park will be open to everyone in the community and area."

    "People assumed when we bought the near-acre that we were some big developer moving in," says Dr. Arpan Gupta, president of Carnegie Homes & Construction and owner of the property. "We actually really want to do something special, something unique here and in keeping with the historic district.

    "The tree is one of the 10 oldest in Houston. It takes up about one-third of the lot. Our park will be open to everyone in the community and area."

    The company is now seeking approval for a reduced setback requirement from 20 to five feet from the Westmoreland Preservation Alliance, even though the area in question faces West Alabama and is not part of the historic district. The city's setback requirement is five feet. The extra room would allow for a "community entrance" to Masterson Oaks, Gupta says.

    Carnegie is keeping the 20 feet deeded setback requirement on Marshall Street, which is part of Westmoreland Historic District.

    While the largest frontage at the site is along the spur, Gupta says the sound wall along that stretches along that side will serve as a green barrier for Masterson Oaks.

    "The entire wall, which is probably 20 feet high, is covered in greenery and evergreen trees stand in front of that," Gupta says. "We have plans to make this area a place for meditation, a Zen-like setting for residents to enjoy. It is fortuitous that the property has this asset."

    Gupta acknowledges that the green light for construction is based on 75 percent of Westmoreland Historic District residents granting their approval. He says he is certain the community is behind Masterson Oaks.

    "Mayor Annise Parker, who lives in that area, has given us her OK. And we're been asked to be involved with the historic district's Memorial Day celebration," Gupta says. "We wanted to go that extra step and secure our neighbors' approval."

    According to the builders' website, the development will offer 2,650- to 3,650-square-foot residential "oversized" lots. While the website still refers to the property as The Oak at Westermoreland, the name change is a recent update.

    The Westmoreland Historic District, located in the Neartown area between Midtown and Montrose, began in 1902 as home to many prominent Houston families. The historic district's boundaries were established in 1997. Many of the original houses are still standing.

    Rendering of Carnegie's Masterson Oaks at Westmoreland. The development is planned for an .83-acre lot between Marshall and Alabama streets and tucked up against Spur 527.

    Carnegie Homes The Oaks at Westmoreland now Masterson Oaks at Westmoreland rendering May 2014
    Carnegie Facebook
    Rendering of Carnegie's Masterson Oaks at Westmoreland. The development is planned for an .83-acre lot between Marshall and Alabama streets and tucked up against Spur 527.
    unspecified
    news/real-estate

    housing affordability news

    This is how much Houston home prices have fallen since 2024

    Amber Heckler
    Jan 16, 2026 | 4:30 pm
    16403 Sheffield Run Drive, Houston home for sale
    Estately.com/
    This home at 16403 Sheffield Run Dr. in Houston's Berkshire Oaks neighborhood is on the market for $309,900.

    A new real estate analysis has revealed housing prices across the Southern United States have seen a major large-scale decline from 2024-2025, with Houston homebuyers experiencing the 11th-steepest "price correction" in the region.

    Houston-area buyers have a better chance of purchasing an affordable home this year after prices cooled 1.5 percent from 2024-2025, the study found.

    Online real estate marketplace Zoocasa compared year-over-year median price changes for single-family homes across 20 cities in the South based on local real estate data. The study also looked at housing affordability in the American West, Midwest, and Northeast.

    In Zoocasa's ranking of the Southern cities where affordability is improving the most, Houston ranked No. 11.

    In 2024, the median price for a single-family home in Houston was nearly $340,000, which has since dropped to $335,000 in 2025. Local sellers may not be happy about cooling prices, but it does make housing more attainable for first-time homebuyers.

    Better housing prices will surely attract even more new residents to the area, especially since Houston was the second-hottest destination for movers in 2025, and its suburbs are still booming in popularity.

    "Affordability is on the rise across Texas, with major cities seeing significant price corrections," the report said. "Most importantly for buyers, the median home price in each of these cities remains more affordable than the national median."

    The national median price of a home in the third quarter of 2025 was $426,800, according to the latest information from the National Association of Realtors (NAR).

    Housing affordability elsewhere in Texas
    Dallas was the No. 2 Southern city where housing is becoming more affordable. Dallas-Fort Worth's housing prices fell 5.71 percent from 2024-2025. The median price of a single-family home in North Texas fell from $397,700 to $375,000 during the one-year span.

    In Beaumont-Port Arthur (a metro area east of Houston), housing prices have fallen 4.62 percent year-over-year, making it the metro with the No. 5 steepest price correction in the South. Median home prices dropped to $217,000 in 2025, or $10,500 lower than the year before, the report found.

    Austin's housing prices fell 2.04 percent during the same time span, landing the Capital City in the No. 9 spot. The median price of a single-family home in Austin fell from $437,925 in 2024 to $429,000 last year.

    Surprisingly, San Antonio ranked near the bottom of the list with housing prices increasing by five percent year-over-year. Single-family homes in the Alamo City had a median price just under $300,000 in 2024, which spiked to $315,000 in 2025.

    Housing market predictions in 2026
    Zoocasa predicts the 2026 U.S. housing market is "poised for a steady revival" since mortgage rates have dipped nearly a full percentage point since this time last year. Current interest rates for a a 30-year mortgage are sitting at 6.16 percent, the study said.

    The NAR report additionally found that pending home sales have grown by 2.6 percent year-over-year from 2024.

    "Homebuyer momentum is building," said NAR Chief Economist Lawrence Yun. "The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023."

    The top 10 Southern cities where housing affordability is improving the most in 2026 are:

    • No. 1 – Naples-Immokalee-Marco Island, Florida
    • No. 2 – Dallas, Texas
    • No. 3 – Durham, North Carolina
    • No. 4 – Ocala, Florida
    • No. 5 – Beaumont-Port Arthur, Texas
    • No. 6 – Cape Coral-Fort Myers, Florida
    • No. 7 – Jacksonville, Florida
    • No. 8 – Atlanta, Georgia
    • No. 9 – Austin, Texas
    • No. 10 – Raleigh, North Carolina
    real estatehousing affordabilityreal estate reporthousing prices
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