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 greater Spring Branch West District with a targeted land acquisition that will be subdivided into six (6) plats and developed into six (6) homes to sell in the $300,000 to $400,000 sales market.
The Greater West Spring Branch attracts investors capitalizing on this form of development (i.e., subdividing land to build and sell multiple single family patio homes). Over the most recent two years (January 2019 to January 2021) the average construction footprint has been 2,500 square feet for resale sizes of 2,000 square feet of livable space.
The business plan of the project is to leverage this market of large lots and subdivide into smaller lots that will then be developed into multiple (4-6+) single family homes with a construction footprint of ≃2,250 square feet per for a resale size of ≃1,850 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 Wycliffe Square subdivision of the Greater West Spring Branch District. The property is less than two (2) 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 West 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 single-family patio homes that feature an open floor concept with a modern exterior and spacious rooftop terraces. The property offers shared driveway access with a two-car garage and off-street guest parking. The interior design is subdivided in kitchen/dining, living & entertaining, 2-3 sleeping quarters, and third floor indoor/outdoor flex space. The sleep spaces include a master suite with an upgraded bathroom, walk-in closets and two (2) full bathroom areas. Homes are loaded with upgraded features, energy efficiency designs and smart home technology.