D.R. Horton purchased 43 acres of land in Uhland, Texas, from real estate investment and land asset management company Walton Global. The builder plans to use the land to develop a residential community called Marigold.

The transaction is the first phase of residential development from a master plan totaling 82 acres, according to Walton. D.R. Horton entered into an option agreement with Walton for 78 acres of land, and Walton is retaining the remaining four acres, which is currently for sale for commercial use.

“The entire South Austin market is experiencing rapid growth, and we are pleased to help feed the pipeline with land and ultimately new homes,” says David Peter, an executive vice president with Walton Global. “The overall plans are expected to include 430 homes and additional commercial lots along the Highway 21 frontage.”

The master-planned community is near highways with access to the nearby cities of Austin and San Antonio.

“We are excited to be working with the Walton team and appreciate their strategic investments which help support our ability to provide much-needed housing at affordable price points in the Uhland market,” says Scott Wilburn, D.R. Horton Austin division president.