Sugar Land - Missouri City Edition | July 2022

2022 REAL ESTATE EDITION

Areas of growth

community—including one high school, two middle schools and four elementary schools—keeps an eye on housing and population growth in communities such as Sienna and implements strategies such as rezoning to ensure its schools do not become overcrowded, FBISD Deputy Superintendent Steve Bassett said. To address future growth needs in the district, FBISD will look to add additional schools in the Sienna and FM 521 corridor, Bassett said. “We’re looking at having two ele- mentaries in our bond package that we’re putting together for 2022,” Bassett said. “We are trying to stay ahead of the game and getting those elementaries in place before the kids really need it.” Expensive leasing A May report revealed Sugar Land single-bedroom median rental rates for apartments and single-family homes are among the highest in the Houston metro. Sugar Land $1,250 Houston $1,200 Pearland $1,200 Spring $1,180 League City $1,130 Texas $1,114 Conroe $1,090 Galveston $980 Pasadena $850 SOURCE: ZUMPER.COM, POPULATION AND SURVEY ANALYSTS, HOUSTON ASSOCIATION OF REALTORS COMMUNITY IMPACT NEWSPAPER

The Sugar Land and Missouri City area is expected to see the majority of single-family home growth around Sienna Parkway, along the FM 521 corridor and south of Hwy. 6 with nearly 22,000 new homes by fall 2031. Three Missouri City communities—Sienna, Glendale Lakes and Parks Edge—are expected to add over 7,000 homes in the same period.

Occupied homes

Homes added by 2031

Sienna 1 10,215

+51.79%

LAKE OLYMPIA PKWY.

+5,290

Glendale Lakes 2 152 +1,142

+751.32%

521

Parks Edge 3 377

+152.52%

BRAZOS RIVER

+575

NOTE: SIENNA, GLENDALE LAKES AND PARKS EDGE ARE MASTERPLANNED COMMUNITIES WITH MULTIPLE PLANNED SUBDIVISIONS.

MAP NOT TO SCALE N

pushing their home purchases years ahead of their initial buying sched- ule, but rising rates are giving home- buyers more pause, Seth said. In addition to buyer hesitancy, low inventory and rising home prices means the number of homes available at lower prices has greatly diminished, Patel said. According to price distribution data for Fort Bend County from the Texas Real Estate Research Center, 21.1% of homes sold in Fort Bend County in 2020 were priced between $200,000-$249,999. In 2021, that dropped to 10.8%. Still, the housing demand remains very strong across the board, and in communities such as Sienna, home construction demand has posed a challenge for builders, who struggle to meet that need given continu- ous supply chain interruptions, said Alvin San Miguel, vice president and

general manager of Sienna. Nationwide numbers paint a big- ger picture of the challenges faced by the homebuilding industry. Accord- ing to Freddie Mac, there were 1.64 million new homes under construc- tion nationwide in April, the highest on record. Locally, in eight counties across the Houston metro, includ- ing Fort Bend County, that gure is about 21,000 as of June 15, said Law- rence Dean, senior vice president of advisory at Zonda, a real estate research rm. “That’s the most new homes under construction we’ve ever seen,” Dean said. “Across the last year and a half, it’s taken homebuilders lon- ger to build due to labor constraints but even more so constraints on building materials.” Sienna, which had more than 10,200 occupied homes as of June 15, plans to build another 5,290

single-family units by 2031, accord- ing to February projections from demographer rm Population and Survey Analysts. New home builds are designed to meet the population demand in Fort Bend County as the county projects its population will reach 1 million residents by 2027. Amenities, more space and a better community feel are some of the rea- sons why people are moving out to Fort Bend County, San Miguel said. “Over the years, I think residents and potential buyers enjoy the sub- urban setting,” San Miguel said. “They are close to many employ- ment centers in Houston, and the Fort Bend Toll Road that ties into the northern part of the community is just a mere 20-minute drive into Houston with no lights.” Fort Bend ISD, which over- sees seven schools in the Sienna

For more information, visit communityimpact.com .

Sugar Land 16312 Southwest Freeway Sugar Land, TX 77479 Rosenberg 4002 FM 762, Ste. 100 Rosenberg, TX 77469

Long Meadow 7101 W. Grand Parkway S., Ste.180 Richmond, TX 77407

Because wrapping your kids in bubble wrap isn’t an option. Open 9am – 9pm, 7 days a week

Sienna 8720 Highway 6, Ste. 400 Missouri City, TX 77459

SUGAR LAND MISSOURI CITY EDITION • JULY 2022