December 1, 2016
LGI Homes acquired 281 acres from Avex Group at FM 529 and FM 2855, just north of Katy, TX. The land on which the builder will develop 1,000 houses is seven miles west of the 3,600-acre, master-planned community of Elyson, which is being developed by Newland Communities.
LGI Homes will begin developing the site shortly, and it will be one of the western-most residential projects in Houston. “This is obviously pretty far out, but Houston is growing so far west, that even in a downturn, the homebuilder is willing to kick this development off,” ARA Newmark’s Tom Dosch told the Houston Business Journal. Dosch, who handled the land transaction between Avex and LGI, added that the Grand Parkway opening made living in the far west area of Houston more viable.
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