Houston Development Expands into Submarkets
A partially entitled raw land tract is most suitable for a future master-planned residential development and is one of the last remaining plots of this size in Katy ISD and Harris County, located in the path of growth.
KATY, TX—In an area that is quickly becoming devoid of large development acreage, one of the few mega-tracts has been scooped up by Xu Qing LLC. The partially entitled raw land is most suitable for a future master-planned residential development.
The 1,568-acre tract is 28 miles west of Houston and 4 miles west of the Grand Parkway with frontage on FM 529, Longenbaugh Road, Sharp Road and Katy Hockley Road. It is southwest of the Bridgeland community and adjacent to the Elyson master planned subdivision.
McAlister Real Estate, a privately owned real estate brokerage firm headquartered in Houston, represented and closed the sale on behalf of the seller, NW Katy I, II, III and IV.
“In terms of Houston expanding into its submarkets, this property is in that path of growth,” Matthew Herring, vice president and Houston land specialist of McAlister Real Estate, tells GlobeSt.com. “It is also one of the last remaining land tracts of this size in Katy ISD and Harris County, located next to other master-planned communities, one being Elyson by Newland Communities.”
Key entities for the buying side in addition to Xu Qing include JL United Realty-Re/Max United’s Rosemary Gong as the buyer’s broker and Diana Hsiung as the buyer’s attorney. The selling side’s key entities also included Stanley Bronstein as the seller’s attorney.
“Many of the booming Houston submarkets continue to see incredible demand for real estate early in 2018,” said Herring. “We’re looking forward to making more announcements this year in other exciting areas of our growing city.”
McAlister Real Estate represents clients seeking land parcels for investment or development as well as marketing sites to potential buyers. The firm has brokered more than $1.5 billion in land transactions within the Texas Triangle of Houston, Austin, San Antonio and Dallas/Fort Worth.