Cy-Fair Edition | July 2022

DEVELOPMENT

2022 REAL ESTATE EDITION

Developers diversifying housing products with new townhome oerings in Cypress communities

HOUSING PROJECTIONS Demographers at Population and Survey Analysts expect the Cy-Fair community to start adding more multifamily housing units to the market annually than single- family units within the coming decade.

New housing projections in Cy-Fair Single-family Multifamily

BY DANICA LLOYD

options master-planned communities oer, he said. Pricing is comparable to traditional single-family homes in these communities, starting at the mid-$400,000s in Towne Lake and the high-$400,000s in Bridgeland. “The customer is kind of the one pushing this ask of us: ‘I want to be a part of all that, but I still want that lock-and-leave product, minimal maintenance to where I can have the luxurious living, the open living lifestyle that I want in my house, but I want to be able to kind of still go there, enjoy the amenities to build, enjoy the retail,’” DePasquale said. Homeowners association fees cover yard maintenance and exterior repairs. DePasquale said residents may also feel an added level of security as they tend to be more connected with their neighbors. Buyers also do not have to sacrice open-concept, luxurious living, he said. Floor plans range from 1,700-2,300 square feet with three to four bedrooms, two to three full bathrooms, and two-car garages that face either the front or the rear, depending on the plan. Beazer Homes will also have a series of duets in Towne Lake’s Northshore, which also oer two single-family homes under one roof. Jennifer Symons, Caldwell Cos. vice president of marketing, said Beazer has developed the homes with soundproof and reproof barriers between units.

More than 38,000 new housing units are projected to be added within Cy-Fair ISD’s boundaries in the next decade, according to demographers at Population and Survey Analysts. About 50% of those planned units are classied as single-family homes. As homebuyers’ needs and desires change, local developers said single-family homes may start to look a little dierent. Two of the biggest housing developers in Cypress announced plans this spring for new townhomes. Caldwell Cos. has already started construction on Northshore in Towne Lake, and The Howard Hughes Corp. announced June 16 presales will begin soon on the rst residential product in Bridgeland Central—the 925-acre mixed-use development planned along the Grand Parkway. Dallas-based homebuilder Highland Homes is contributing to both proj- ects. John DePasquale, vice president of sales for Highland Homes’ Houston division, said after testing the oor plan designs in the Dallas-Fort Worth market, the company chose Cypress as its target for an entry into the Houston market and will be building in both Towne Lake and Bridgeland. This concept provides a new option for empty nesters or young profes- sionals interested in low-mainte- nance living while being able to take advantage of the amenities and retail

2.5k

New townhomes are planned for Bridgeland Central.

RENDERING COURTESY THE HOWARD HUGHES CORP. AND HIGHLAND HOMES

1.5k

Homes planned over the next 10 years:

500

+19,251

+18,229

Highland Homes launched its series of townhomes in Dallas-Fort Worth.

SOURCE: POPULATION AND SURVEY ANALYSTS COMMUNITY IMPACT NEWSPAPER

COURTESY HIGHLAND HOMES

“I think Towne Lake is just more about oering something for every- one,” Symons said. “We’ve always partnered with a wide variety of builders so that whether you’re a young family just starting out new to homeownership or you’re looking to downsize or someone’s looking for a custom home on the water, there truly is something for everyone.” Millennials—who range in age from about 25 to 40—have made up the larg- est segment of homebuyers in Bridge- land in recent years, according to Jim Carman, Houston region president for

The Howard Hughes Corp. He said he believes buyers in this demographic are looking for lower-maintenance living as well as traditional neighbor- hood amenities, quality schools, open spaces and walkability. “It’s a wide demographic that’s looking for those townhomes—it’s empty nesters; it’s young profession- als, young families,” he said. “These townhomes have very attainable price points. They have a lock-and- leave lifestyle that appeals to partic- ularly the empty nesters. And so we expect to see that trend continue.”

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CYFAIR EDITION • JULY 2022