San Antonio, TX (July 20, 2016) — RSI Communities LLC, a California- and Texas-based homebuilder and developer, today announced its purchase of Stillwater Ranch, a master-planned community in San Antonio, from Wheelock Street Capital. Through the agreement, RSI takes on the roles of developer and home builder and is expected to build 780 new, energy efficient single-family homes on the remaining undeveloped land in the community.
Located on 830 acres in northwest San Antonio, Stillwater Ranch features an amenity center with a 6000 sq. ft. pool, fitness room, lighted tennis and basketball courts, shaded playground, a four-mile trail system, and a top-rated elementary school. Six home builders are currently offering new homes from the low $200,000’s to mid $400,000’s. RSI will continue relationships with the community’s existing builders to complete the projected final buildout of 2,300 homes. Companies that have built in the master plan include Lennar, Ryland (now CalAtlantic), Perry, Highland, NewLeaf, Coventry and Chesmar.
“Stillwater Ranch provides a great opportunity for RSI Communities to serve in an anchor position in a flourishing community and give first-time and move-up buyers access to high-quality homes in high-demand submarkets with excellent schools and amenities,” said John Bohnen, chief operating officer of RSI Communities. “Stillwater Ranch will play an important role in our Central Texas growth strategy. Currently, RSI Communities is on target to have 25 communities open for sale in 2017."
New home sales began in Stillwater Ranch in 2007. Wheelock Street Capital acquired the community in early 2011 and has since re-positioned the community, and developed more than 1,000 lots which have been sold to regional and national production home builders. In 2015 the real estate research firm Metrostudy ranked Stillwater Ranch the #1 selling community in San Antonio, and #23 in the nation, based on closings.
“Stillwater Ranch has been one of our company’s most successful master-planned communities,” said Mike Rafferty, Wheelock’s regional partner for Texas. “All of our builders have enjoyed excellent sales velocity over the past five years and we expect that trend to continue with RSI until the community is completed.”
For more information about Stillwater Ranch, visit www.stillwaterranchtx.com. For more information about RSI Communities, visit www.rsicommunities.com. For more information about Wheelock Street Capital, visit www.wheelockst.com.
RSI Communities is a California- and Texas-based home builder currently doing business in both states. The company acquires land for its own developments, as well as partners with developers to build homes for first-time and move-up home buyers.It also builds single-family home rental communities. By the end of 2017, RSI Communities intends to have 30 to 35 communities throughout Texas and Southern California with future plans to expand its footprint into Florida, Arizona and the Carolinas.