SAN ANTONIO--The Kalikow Group, on behalf of KEP Luckey Ranch Global Associates, has announced the closing of the sale of a 239-acre residential land parcel to LGI Homes at the master-planned 2,400-home, 610-acre Luckey Ranch project in San Antonio.
The total Luckey Ranch site consists of 539 acres zoned for residential development parcels as well as 71 acres zoned for commercial use. In the last three years, LGIH has acquired all of the available residential development acreage. The property is located at Loop 1604 North and Highway 90, about 20 minutes west of downtown San Antonio.
“We continue to look for additional investment opportunities in San Antonio area, which we see as an emerging growth market,” Ed Kalikow, CEO of The Kalikow Group, told GlobeSt.com. “We are very happy to once again work with LGI Homes, who have found the sweet spot in catering to first-time homebuyers in this market.”
In 2011, LGI Homes acquired a 93-acre residential land parcel within the Luckey Ranch master development. In 2013, LGIH acquired a second, 208-acre site.
The Kalikow Group, which acquired the site in 2007, is capitalizing on the area's emerging housing market fueled by new job growth and strong demand for affordable, single-family homes.
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