More details emerge about new master-planned community near Grand Parkway

Newland Communities will develop 6,300 homes in a new master-planned community west of Houston called Elyson.

The San Diego, California-based developer began acquiring land for the community in 2012 and finished its final transaction this year. Newland found the 3,642-acre property attractive because of its prime location west of the Grand Parkway, which has spurred new developments across the northern swath of the Bayou City.

"We knew with almost absolute certainty that the Grand Parkway was going to be built," said Ted Nelson, Newland's central region president. "Without a high-speed highway access, we knew there's essentially no way to build a 6,000-plus home community. Before the parkway, it was very difficult to get to this location."

Elyson – named after Ely Freeman, one of the farmers who owned the cattle land previously – will be developed over the next 10 to 12 years, Nelson said.

The first phase of Elyson's decade-long development plan calls for 800 homes, Nelson said. They will be a mix of traditional and patio-style homes, with townhomes, twin villas and multifamily projects planned for later phases.

Prices are expected to start between $250,000 to $300,000, and range upward to slightly more than $1 million, Nelson said.

"Right now, it's almost impossible to deliver a lot at a point where a homebuilder can offer a home below $200,000 because of the price of land and amenities," Nelson said. "We'll see some more higher-density product in the suburbs to reach affordability issues."

Newland has yet to select homebuilders, but land development is expected to start in the first quarter of 2015, with delivery by the second quarter of 2016. The first homes are expected to be constructed in 2016, Nelson said.

Paul Takahashi covers residential and multifamily commercial real estate for the Houston Business Journal.