The Houston-based developer Johnson Development Corp and California-based IHP Capital Partners is purchasing land to build a new master-planned community.
About 590 acres of land was purchased from the Henderson-Wessendorff Foundation of Richmond. The development of the community is set to begin by mid-2016, and construction on these new homes are predicted to begin in early 2017. This is Johnson Development's seventh master-planned community in Fort Bend County.
“When a family foundation says, ‘We trust you to do the right thing,’ they are entrusting us to protect and enhance a legacy founded over 100 years ago,” Larry Johnson, president and CEO of Johnson Development, said in the release.
Johnson Development’s Riverstone was the highest-ranked Houston community on an annual list of the top-selling master-planned communities nationwide, based on 2014 sales. The company was behind three of the communities on the list, more than any other developer.
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