Houston Business Journal - Pre-sales have begun on homes in one of the area’s most popular master-planned communities.
Scottsdale, Arizona-based Taylor Morrison Home Corp. announced May 21 that pre-sales have begun for three of its home series in the Avalon section of Riverstone in Sugar Land. Taylor Morrison acquired 184 acres in the Riverstone master-planned community in 2011 to create one of the largest Avalon-branded developments so far.
It acquired the acreage for an undisclosed sum from Houston-based The Johnson Development Corp., developer of the 3,700-acre Riverstone. The new phase is located south of University Drive.
“This new phase of Avalon at Riverstone will truly be something special for our homebuyers,” said Jim Ellison, vice president of sales and marketing for Taylor Morrison’s Houston division, in a statement. “Given the amenities already in place and the homes we’re planning, Houston homebuyers will find a home to fit their lifestyle at Avalon at Riverstone.”
Prices range from the $340,000s to $580,000s.
Riverstone, which ranked second only to Cinco Ranch for the most homes sold last year in a master-planned community, recently announced it will release 900 more home sites over the next six months, including nine 1-acre island lots on Lake Riverstone, which is located in the middle of the Sugar Land development. Avalon will introduce the most new home sites in the community — about 300 — and more than 100 homesites will be released for a new neighborhood called Ivory Ridge, according to Riverstone.
With the master-planned community of Telfair, Riverstone’s biggest competitor, being built out, there is a huge demand for more single-family homes in the Fort Bend area, Trey Reichert, general manager and vice president of Riverstone, recently told the Houston Business Journal.