February 7, 2019
Johnson Development Corp. has closed on its first Austin-area master-planned community, Bryson in Leander. The Houston-based investor acquired the 530-acre neighborhood from North Carolina-based Crescent Communities for an undisclosed price.
Located just east of Highway 183A, Bryson has sold 315 homesites since opening in 2015. When complete, it is expected to contain 1,261 single-family homes priced from the $250,000s to the $500,000s.
“Austin is one of the strongest housing markets in the country, and north Austin particularly is booming,” said Larry Johnson, founder and CEO of Johnson Development. “This is an excellent entry in the Austin market. Bryson is in line with our lifestyle-focused approach, and is only 16 miles from the new $1 billion campus Apple announced last month.”
Johnson Development was founded in 1975, and now has 13 active communities in the Houston area, two in Dallas-Fort Worth and one in Atlanta. The communities encompass approximately 74,000 homes and 16.6 million square feet of retail and commercial space on 44,500 acres.
Randy Evans with Eastdil Secured represented Crescent Communities in the Bryson sale.
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