KEY DEAL POINTS
Houstonian Capital Investments (HCI) is proud to present the opportunity to acquire land below market rates, subdivide the land and develop single family homes.
By coupling the demand for single family homes in near town neighborhoods with readily available land to acquire and develop in Houston’s Inner Loop. The city’s no-zoning regulations have enabled the accumulation of vacant land, abandoned properties and single homes on oversized lots throughout this area. The same regulations allow for land to be subdivided into smaller development plats. This creates the opportunity for developers and investors to maximize land value by subdividing existing lots into multiple plats for the development and construction of residential single family homes for sale.
The constant growth in this area is impressive as noted in several recent investor magazine articles. According the U.S. Census Bureau, the Houston metro area ranked third in the highest population growth among metropolitan areas from 2017 to 2018, with 91,689 new residents calling Space City home. As the population of America’s fourth-largest city continues to rise, more revamped and redeveloped neighborhoods are popping-up and making their mark. Areas that were once far down on the list of prime real estate options (i.e., Midtown, The Heights, etc.) are now wiping off the dust and turning into shiny, coveted locales. While there’s a lot of new development happening all over Houston, the Near Northside is thriving as an up-and-coming inner Loop neighborhood as it completes the journey from hidden gem to fully coveted locale.
The goal is to couple the expanding demand for new, single-family homes in the Westview Terrace subdivision (Greater East Spring Branch District) with a targeted land acquisition that will be acquired and developed into one (1) single family home to sell in the $800,000 to $1,000,000 sales market.
The Greater Spring Branch East attracts investors capitalizing on this form of development (i.e., purchasing vacant or tear down lots to build and sell new and larger single family homes). Over the most recent two years (January 2019 to January 2021) there have been a total of eighteen (18) new construction homes built and sold in the $750,000 to $1,225,000 market in the subdivision of Westview Terrace. The average construction footprint has been 3,500 square feet for resale sizes of 3,000 square feet of livable space.
The business plan of the project is to leverage this market of large lots (vacant or with existing teardown) and develop into larger, luxury single family homes with a construction footprint of ≃3,500 square feet per for a resale size of ≃3,000 square feet of livable space.
The project will be developed and constructed by HCI's in-house professional home building company, CRV Homes, LLC. CRV Homes is a full-service design-build firm serving, combining professional design services with the construction craftsmanship and quality developed over a decade of home-building experience. CRV Homes brings together high-quality development and construction professionals with award-winning design expertise and inspirations. The combined CRV Homes team offers the unparalleled benefit of having experts in their specialized fields all under one roof. CRV Homes has the experience and expertise to execute HCI's business plan.
DEVELOPMENT & LOCATION
The property is in the Westview Terrace subdivision of the Greater East Spring Branch District. The property is less than five (5) miles away from City Centre and the Memorial City Mall and near the growing West Houston medical centers, including Methodist, Memorial Hermann and HCA. The Greater Spring Branch District stretches West of Downtown Houston and east of the Energy Corridor and includes some smaller, well-known neighborhoods such as Memorial City, Bunker Hill, and Western Oaks. The district offers a quick commute to Energy Corridor and Downtown Houston, two major job centers in Houston, and is one of the many reasons many choose to relocate to Spring Branch Houston.
The development proposition consists of a single-family home that features an open floor concept with a modern exterior and a sleek interior throughout. The property offers private driveway access and a two-car garage. The interior design is subdivided in kitchen/dining, living & entertaining, three to four (3-4) sleeping quarters including a master suite with an upgraded bathroom, walk-in closets and two to three (2-3) full bathroom areas. Homes are loaded with upgraded features, energy efficiency designs and smart home technology.