Tri Pointe Homes Expands in Austin

Tri Pointe Homes has broken ground in a new master-planned community in Austin, responding to soaring demand in the market for single-family homes. The homebuilder has partnered with Meritage Homes to develop Homestead at Old Settlers Park, a 178-acre land site in North Austin. Tri Pointe will build 217 single-family homes, and Meritage will build 263 homes.

“The Austin housing market continues to be extremely robust with high demand and the lowest inventory levels in history,” Bryan Havel, division president at Tri Pointe Homes, tells GlobeSt.com. “Add to that the strength of the nearby Round Rock submarket and the amazing location of Homestead at Old Settlers Park, which is close to so many things families desire—Dell Diamond, Old Settler’s Park and Kalahari Resort. Round Rock is also known for its great schools.”

Austin has rapidly become one of the biggest boom markets in the country with a combination of population and job growth. “Austin has been one of the fastest growing cities in the nation for the past decade, and that growth seems sustainable given the desire of buyers and companies to relocate for the lower cost of living. Coming off a challenging pandemic year, Austin still ranks second nationally for homebuilding prospects,” adds Havel.

Recent corporate relocations have also cemented the markets future growth. Both Oracle and Tesla have announced plans to move to the market from California. “Austin has its own special vibe and lifestyle, which is attractive to many. People are also attracted to opportunity, which continues to grow with the steady pace of corporate relocations to Austin,” says Havel. “Companies are enticed by Texas’ low cost of living and pro-business approach, leading to more jobs and further migration, especially from the West Coast.”

Homestead at Old Settlers Park will serve the demand driven by these trends. “The community falls in line with Austin’s strong expansion path into the northern suburbs, but will also stand out with fresh, quality product, including premium estate lots combined with spectacular landscaping, a comfortable neighborhood feel, and great connectivity,” says Havel. “Catering to young families, first-time buyers and empty nesters, we believe the community offers homebuyers the best of everything high up on their list—location, great schools, and one of the best arrays of nearby amenities and attractions one could hope for.”

The developer expects to deliver 80 home sites by the summer priced at $300,000 to $500,000.