Land Tejas has acquired a large tract of land in northwest Harris County for a new master-planned community called Cypress Green, adding to the more than 25,000 homesites the firm has developed across greater Houston.
The developer anticipates that at build-out, the community will be approximately 646 acres with approximately 2,300 homes. Cypress Green is located on FM 2920 between Highway 290 and Highway 249 in Hockley.
“We are very excited to continue growing our portfolio of outstanding master-planned communities in the Greater Houston area with the addition of Cypress Green,” said James Henrie, Chief Operating Officer for Land Tejas. “This community will be developed with the same innovative approach as our other Land Tejas projects.”
Land Tejas purchased the property from McAlister Opportunity Funds. CBA Land Capital LP provided investment equity and Domain Real Estate Partners provided financing for acquisition and development of the tract.
Cypress Green will feature a mix of homesites ranging from 40- to 55-foot-wide properties, some of which are expected to be delivered in 2022. Builders and pricing have not been announced. The community will be served by the Waller Independent School District.
Cypress Green joins two other new Land Tejas communities — Sunterra in Katy and Marvida in Cypress, both of which are planned to launch this year. Henrie says he expects Cypress Green will begin home sales in 2022.
In all, Land Tejas has 12 active communities, including Balmoral, the No. 2 top-selling community in Texas and ranked among the nation’s 12 top-selling communities. It was the first community in Texas to debut a Crystal Lagoons® amenity.
Other current communities of Land Tejas, founded in 1997, include Bridge Creek, Etteridge, Harmony, Miramesa, Sierra Vista, Sterling Lakes, Vanbrooke, Wedgewood Forest and Lago Mar, home to a 12-acre Crystal Lagoons® amenity.