MAGNOLIA – Johnson Development and IHP Capital Partners have purchased the initial phase of what will become a 1,400-acre new-home community.
The tract is near the intersection of SH 249 and FM 1486.
The community will accommodate up to 3,700 units in a mix of single-family homes and townhomes. Builders will receive lots in late 2024.
The Nelson Company brokered the land sale.
The project is the joint venture’s second development together.
The Texas Real Estate Research Center has more information on housing:Source: Total PR