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Sugar Land's Riverstone to release more home sites, including some on an (almost) island
April 01, 2014
One of the area’s most popular master-planned communities is about to get bigger and swankier.
Riverstone, ranked second only to Cinco Ranch for the most homes sold last year in a master-planned community, will release 900 more home sites over the next six months, including nine 1-acre island lots on Lake Riverstone, which is located in the middle of the Sugar Land development.
“Technically it’s a peninsula, not an island, since there is water on three sides,” said Trey Reichert, general manager and vice president of Riverstone. “We have a lot of buyers that are interested.”
Prices for the nine lots on the peninsula have not been released, but there is already a waiting list of at least 30 people wanting to buy, said Reichert.
The neighborhood in the master-planned community with the most new homesites will be Avalon at Riverstone, where nearly 300 properties will be introduced this year. Also, Riverstone is releasing more than 100 home sites for a new neighborhood, Ivory Ridge.
Home prices will range from $280,000 to the millions, with about 20 homebuilders building in the Johnson Development Corp. community.
Riverstone has had three consecutive years of record-breaking home sales, with builders selling nearly 800 homes last year. Metrostudy ranks the Fort Bend community No. 2 in Houston, while John Burns Real Estate Consulting and Robert Charles Lesser & Co. both list Riverstone No. 6 on their tallies of the nation’s top-selling master-planned developments.
With the master-planned community of Telfair, Riverstone’s biggest competitor, being built out, there is a huge demand for more single-family homes in the Fort Bend area, Reichert said.
Riverstone is also developing a new 17-acre recreation center in the heart of the community to be completed by summer. It will include a 9,000-square-foot club house with a fitness center, large swimming pool with waterslide tower, splash pad, eight tennis courts and a state-of-the-art playground with ziplines.
Fort Bend is the fifth fastest-growing county in the nation, according to Forbes.
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