Houston home builder Taylor Morrison is increasing its stake in the Fort Bend community of Riverstone, announcing that it has purchased a 575-acre parcel from The Johnson Development Corp.
The purchase represents the single largest undeveloped tract remaining in Riverstone and increases the company’s already sizable land holdings in the top-selling community.
Company officials said the purchase is a perfect fit for the home builder, which currently builds in the highly successful Avalon at Riverstone neighborhood. The additional land purchase will further solidify the company’s presence in a master-planned community that it believes is one of the best in the greater Houston area, said Jonathan White, division president for Taylor Morrison Houston.
“We’re committed to Riverstone and to delivering homes that represent our Avalon brand in the best possible scenario,” White said. “The opportunities for home builders and the amenities available to homeowners in Riverstone are a testament to the incredible job The Johnson Development Corp. has done with this project.”
Riverstone’s Tom Wilcox said he anticipates an enthusiastic reception from prospective homebuyers.
“We had people waiting overnight when Avalon at Riverstone was launched,” said Wilcox, the community’s general manager. “Taylor Morrison has developed a brand and a home that resonates with discriminating buyers.”
The 575-acre parcel is directly south of Taylor Morrison’s existing Avalon at Riverstone neighborhood. It is bordered to the north by University Boulevard and to the west and south by the Brazos River. All homes in the new parcel will have a Sugar Land address.
Known for its prime location along Highway 6 near U.S. 59 and the Fort Bend Parkway, Riverstone offers quick access to locally headquartered engineering, healthcare and oil and gas firms, as well as the Galleria area and the Texas Medical Center. Shopping, dining and entertainment are minutes away at the Sugar Land Town Square and First Colony Mall.
“Our buyers understand the importance of a quality location,” White said. “Riverstone has all of the things that any discerning homebuyer would want in a neighborhood.”
Young residents in Avalon at Riverstone attend highly regarded schools in the Fort Bend Independent School District, including Commonwealth Elementary, Fort Settlement Middle School and Elkins High School.
Metrostudy and the Houston Business Journal rank Riverstone No. 3 on their current lists of the most active master-planned communities in the Houston area, based on sales and housing starts, respectively. Robert Charles Lesser & Co. lists Riverstone as the No. 7 top-selling community in the nation.
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