The transformation of another rural Harris County community into an upscale Houston exurb is underway.
Hockley is a community of cattle ranches and farms 44 miles northwest of downtown Houston will one day be home to a gated subdivision featuring luxury homes going for $1 million each — in a community where home prices currently average $318,000, according to a Houston Chronicle report.
Houston-based Kickerillo Homes and Bill Bean, a local businessman who owns a manufacturing facility that builds offshore oil drilling equipment, are teaming up to launch the 400-acre Stallion Lakes development.
Relatively cheap land in Texas has attracted investors from far and wide to the Lone Star State but Stallion Lakes offers local developers a chance to get in on the action.
Many of the developments springing up in the suburbs and exurbs of Texas’ major cities include neighborhoods targeting potential homeowners who have been priced out of the red-hot city centers, and others aim to attract those who have effectively been forced into the rental market.
In late June, Starwood Land, a subsidiary of Barry Sternlicht’s Miami-based Starwood Capital Group announced a sprawling 933-acre master-planned community near Fort Bend County.
In early 2022, Los Angeles-based Banyan Residential announced the launch of a 34-acre build-to-rent development in Pflugerville, Texas, 18 miles north of Austin.
Hockley’s Stallion Lakes will have one and two-story houses ranging in size from 4,500 to 5,000 square feet. Located at 24609 Magnolia Road, Stallion Lakes will be 1.5 miles from Oil Ranch, a family-friendly amusement park and ranch.
Developers have started selling lots ranging in price from $300,000 to $690,000, according to Compass Real Estate.
Ultimately, Stallion Lakes will have 115 homes on lots ranging from 1.5 acres to more than 3.5 acres. Developers plan to preserve the area’s rolling terrain and integrate a hiking trail system into the subdivision.
Potential homebuyers can hire one of five home builders to construct their house:
Kickerillo Companies, Jeff Paul Homes, Matter Powers Custom Homes, Morning Star Builders and William David Homes.
[Houston Chronicle] — Karn Dhingra