With Houston’s scorching real estate market showing no signs of cooling off, inventory is at a premium. That means large developments, such as the previously reported Prairieland Village, are in high demand.
To that end, a new project is in the works for those looking for lush, wooded sites in the suburbs.
Trez Capital has just announced the closing of a $44 million loan to Massey Oaks Development, LP for Massey Oaks, a sprawling new development coming to Pearland. The new master-planned community spans 356 acres and will boast approximately 950 homesites upon completion, press materials note.
Situated at the intersection of Harkey Road and McKeever Road, Massey Oaks pays homage to the mature live oaks and other trees on Massey Ranch, which were planted by the Massey family.
Buyers can expect recreational amenities and a ranching aesthetic. The modern homes start at the high $300,000 mark and are zoned to Alvin ISD. Amenities include a center with a lakefront open-air pavilion, playgrounds and a splash pad, walking and biking trails throughout the property, and recreational areas — including a grove and lake park area.
Massey Oaks offers easy access to State Highway 288 and SH35. Meritage Homes and Castle Rock builders are slated for the first phase of home development. The first phase of lots are expected to deliver in the first quarter of 2022, per a press release.
“We’re pleased to provide the financing for Massey Oaks, a modern, new master-planned destination that will attract many families and young professionals due to its natural setting, mature trees, extensive amenities and its location just outside Houston,” said John Sullivan, vice president of Trez Capital, in a statement.
“Houston and the surrounding cities are rapidly expanding and this is one of the last tracts in that area of any size that could be developed. Massey Oaks Development is taking prudent care to capture the character of the land with its storied history as a part of the Massey Ranch, which was founded by the Massey family of Pearland.”