Residences Rising in Houston Area Submarket

The Conroe area north of Houston will soon see another residential development break ground. Area company Signorelli will develop a 255-acre residential community in Montgomery County, the Houston Business Journal reported.

The new community near Conroe-North Houston Regional Airport at Airport Road and FM 1484 will have 840 single-family homes and a new elementary school for the Conroe Independent School District. The houses will be on 40-, 45- and 50-foot-wide lots. An additional 45 acres will have green space, lakes and recreational amenities.

The neighborhood will be 10 miles from Lake Conroe and 5 miles from I-45. Signorelli will announce the neighborhood’s name, select home builders, and make renderings and prices available later this year.

Groundbreaking is scheduled for the third quarter of 2022, and the first homes are expected to be available in late 2023.

Conroe is on I-45, 14 miles north of Signorelli’s headquarters in the Woodlands, a special-purpose district and planned community 28 miles north of Houston. It’s booming along with the rest of the Houston area. Cantor Fizgerald just spent $43.4 million on its off-market purchase of a multifamily property there.

Signorelli has plans for a 265-acre Caney Mills community in the area and California-based Shea Homes will build a 740-acre development nearby, according to the Houston Business Journal. The Conroe multifamily rental submarket showed 22 percent year-over-year growth in December 2021, the publication reported.

[Houston Business Journal] — Cindy Widner