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New neighborhood on tap for Riverstone
April 09, 2014
As demand increases, one of Houston’s largest master-planned communities is about to get even bigger.
San Antonio-based Newmark Homes has purchased a 22-acre tract of land in Fort Bend County just west of Highway 6 on Oilfield Road adjacent to the master-planned community of Riverstone in Sugar Land.
The property will have 63 55-foot home sites and will eventually become part of Riverstone. The Johnson Development Corp., developer of Riverstone, will develop the parcel for Newmark Homes. It will be marketed as a neighborhood of the community.
Sales will begin next year, but prices have yet to be determined.
“The timing in opportune,” Mike Moody, president of Newmark Homes, said in a release. “We will be the only builder in Riverstone offering 55-foot home sites by that time, so this new neighborhood offers great potential. Riverstoen is one of the best-selling communities in the Houston area and we are fortunate to be able to continue offering homes there.”
Riverstone, ranked second only to Cinco Ranch for the most homes sold last year in a master-planned community, recently announced it will release 900 more home sites over the next six months.
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, Trey Reichert, general manager and vice president of Riverstone.
Newmark Homes currently sells in Riverstone’s Millwood neighborhood, another section of 55-foot home sites, as well as in Marble Bend, which includes 80-foot properties
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