As a family person looking to buy a home next year. This is actually good news for us. Where do you stand? Right now homes are way over priced. They need a serious adjustment. Owners over pricing, foreign investors, AirBnB investors, and at the time 0% interest. Let’s not forget inflation, and endless crises.
We have been looking at homes all during COVID, and actually before leaving Vegas. When I say looking for a home, we have been looking nationally. Coast to Coast, Puerto Rico, and several other countries. All that said, this is the first type of planned housing community, a very large one at 1000+ acres, in this format I have heard about.
Houston’s newest lagoon-locked community has broken ground. Saint Tropez, dubbed a “world-class lagoon community” developer by its developer Megatel Homes, will bring white sand beaches and crystal blue water to northeast Harris County.
Specifically, the $2 billion Saint Tropez project will boast more than 1,000 acres on a site located at Grand Parkway and Huffman Cleveland Road. Phase one is expected to be completed by the first quarter of 2023, per a Megatel press release.
Residentially, the community will include 4,500 single-family lots and multifamily units. Single-family homes will range in size from 1,500 square feet to 4,000 square feet and will run between $350,000 to $700,000 each.
Pre-selling of the first phase of Saint Tropez is expected to begin within the next 60 days, per a release.
Multifamily rental units will also be available. These will include one-, two- and three-bedroom options with rental rates expected to begin at $1,200 per month.
Citing Houston’s “exponential” growth and sixth-largest growth in employment in the U.S. over the past year (according to the Bureau of Labor Statistics), the company notes that the project primes them for entry into our red-hot market.
“Megatel Homes has been searching for the optimum opportunity to gain re-entry into the Houston housing market,” said Zach Ipour, co-founder in a statement. “We are excited to bring this revolutionary residential experience to the Houston area.”
Why the area? Megatel adds in a release that it procured the land at a “reasonable” price, which helps to offer buyers “luxurious amenities and a superior residential experience” at an attractive price point — even offering financing, towards that end.
Saint Tropez marks one of 12 master-planned lagoon communities with resort-style amenities in development by Megatel.
“Lagoon communities have proven to be an extraordinarily popular residential option throughout Texas, with heavy demand for these amenity-rich developments,” Ipour added in the statement. “As a result of this significant demand, Megatel is pursuing the development of a dozen such communities throughout Texas and expanding to other states.”
As CultureMap has reported, few phenomena have been buzzier than lagoons, of late, as evidenced by the success of Lago Mar in Texas City. The Crystal Lagoon development there saw some 80,000 visitors to the shimmering waters and Lagoonfest activities last year alone.
So, this makes me wonder if it is possible to make these type of communities nationally. What are your thoughts.
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