Investors buy 621 acres in KatyInvestors buy 621 acres in Katyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=35142014-07-28T15:58:00Z2014-07-28T00:00:00Z

KATY - John S. Beeson, John Stephen Ford Sr. and Steven A. Webster have purchased 621 acres about six miles north of I-10 and four miles west of the Grand Pkwy. The property is bordered by FM 529, Katy Hockley Rd., Beckendorff Rd. and Pitts Rd.

"It's in the Katy ISD, which is very important," said John Beeson of Beeson Properties. "We'll probably hold it for a year and sell it to somebody to develop for house lots."

Builders in the Houston area sold 25,627 new houses last year, an 18 percent rise over 2012, according to housing consulting firm Metrostudy. Builders are on target to construct 30,000 houses this year.

"We're the strongest housing market in the country," said Scott Davis, Houston regional director of Metrostudy. "We've got demand for 35,000 in the market. It's going to take 18 months to get there. We don't have enough lots at prices people can afford in markets where they want to buy."

The property is next to about 3,600 acres just west of the Grand Pkwy., along FM 529 where Newland Communities is planning its next development.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/real-estate/article/Deal-of-the-Week-Investors-buy-big-tract-near-5647627.phpRead more at {Source}

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