Land, lots of land on hold in Waller County near Daikin campusLand, lots of land on hold in Waller County near Daikin campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=118182016-01-29T06:00:00Z2016-01-29T20:00:00Z

​​WALLER COUNTY - A company is under contract to buy 521 acres northwest of Houston and is in negotiations with master-planned community developers regarding the land.

American International Texas Properties Inc. owns large tracts of land leased to farmers and for sale. The company plans to close on the 521 acres in Waller County in five months.

The company did not disclose the purchase price for the land, but it did note that different properties in the area had sold or listed for more than $40,000 per acre. At $40,000 per acre, the land would cost at least $20.84 million.

Stewart Title Co. has accepted American International Texas Properties’ contract to buy the land.

The property, which fronts US Hwy. 290 for more than a mile, is near Daikin North America LLC’s $417 million manufacturing plant called the Daikin-Goodman Comfortplex Campus.

The HVAC giant is expected to open its new 4.1 million-sf manufacturing facility this fall and employ more than 6,000 employees by mid-2017.

The new campus is expected to generate $3.9 billion in annual economic impact for the Houston region, and has already spurring new development in the area.

T R Inscore LLC plans to build a Class A, garden-style apartment project just a few miles north of the campus on US 290. The multifamily developer hopes to capitalize on the growing demand for housing that the new Daikin plant and other industrial projects will spur in the area.

Houston Business Journal
Houston-The Woodlands-Sugar Land

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