Development plans for Sienna South begin to take shape
January 23, 2014

 

National luxury home builder Toll Brothers—in conjunction with global real estate private equity firm GTIS Partners—announced Jan. 22 the purchase of Sienna South, a 3,700-acre site and last remaining section of the Sienna Plantation community.

Toll Brothers expects to develop about 6,500 lots for single-family homes that will be sold to prospective home builders in the next several years with up to 1,750 lots to be built and maintained by Toll Brothers.

“Fort Bend County has the third-highest median household income of all counties in Texas and is among the top 30 nationwide,” said Karl Mistry, president of Toll Brother's Houston Division. “It offers a vast array of employment and recreational opportunities, making it one of the most desirable places in the U.S. in which to live.”

Construction and site improvements to Sienna South are slated to begin in April and homes are expected to begin construction in late 2014. Homebuyers should be able to begin purchasing homes by early 2015, according to Toll Brothers. Available homes are expected to range anywhere from $200,000 to $1 million.

“With Houston's well-publicized shortage of home sites in premier master-planned communities, we believe the project's timing, Sienna Plantation's stellar reputation, our experienced management team, excellent location, amenities and highly rated schools will attract home builders and home buyers across the price point spectrum,” Mistry said.

The Toll Brothers–GTIS Partners joint venture has selected the Johnson Development Corporation—the developer of Sienna Plantation and several of Houston's master-planned communities—as master developer of Sienna South.

Sienna South is zoned to feature up to 10,000 homes along with about 140 acres for commercial use and more than 60 acres for civil use. The community is expected to generate about $2.6 billion in home sales upon build-out, according to Toll Brothers. The master plan also includes more than 1,000 acres of open park space, featuring trails, lakes, athletic fields and pools.

“This will be a continuation of our 16-year history of the successful development of Sienna Plantation, one of the nation's top-selling master-planned communities,” said Doug Goff, Chief Operating Officer with Johnson Development.

 

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