Houston, TX, September 25, 2013 –(PR.com)– Houston home builder Taylor Morrison is increasing its stake in the Fort Bend community of Riverstone, announcing today that it has purchased a 575-acre parcel from The Johnson Development Corp.
The purchase represents the single largest undeveloped tract remaining in Riverstone and increases the company’s already sizable land holdings in the top-selling community.
Company officials said the purchase is a perfect fit for the home builder, which currently builds in the highly successful Avalon at Riverstone neighborhood. The additional land purchase will further solidify the company’s presence in a master-planned community that it believes is one of the best in the greater Houston area, said Jonathan White, division President for Taylor Morrison Houston.
“We’re committed to Riverstone and to delivering homes that represent our Avalon brand in the best possible scenario,” White said. “The opportunities for home builders and the amenities available to homeowners in Riverstone are a testament to the incredible job The Johnson Development Corp. has done with this project.”
Riverstone’s Tom Wilcox said he anticipates an enthusiastic reception from prospective homebuyers.
“We had people waiting overnight when Avalon at Riverstone was launched,” said Wilcox, the community’s general manager. “Taylor Morrison has developed a brand and a home that resonates with discriminating buyers.”
The 575-acre parcel is directly south of Taylor Morrison’s existing Avalon at Riverstone neighborhood. It is bordered to the north by University Boulevard and to the west and south by the Brazos River. All homes in the new parcel will have a Sugar Land address.
Known for its prime location along Highway 6 near U.S. 59 and the Fort Bend Parkway, Riverstone offers quick access to locally headquartered engineering, healthcare and oil and gas firms, as well as the Galleria area and the Texas Medical Center. Shopping, dining and entertainment are minutes away at the Sugar Land Town Square and First Colony Mall.
“Our buyers understand the importance of a quality location,” White said. “Riverstone has all of the things that any discerning homebuyer would want in a neighborhood.”
Young residents in Avalon at Riverstone attend highly regarded schools in the Fort Bend Independent School District, including Commonwealth Elementary, Fort Settlement Middle School and Elkins High School.
Metrostudy and the Houston Business Journal rank Riverstone No. 3 on their current lists of the most active master-planned communities in the Houston area, based on sales and housing starts, respectively. Robert Charles Lesser & Co. lists Riverstone as the No. 7 top-selling community in the nation.
For more information on Riverstone, visit www.riverstone.com. For details about Taylor Morrison, visit www.taylormorrison.com.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison Home Corporation operates in the U.S. under the Taylor Morrison and Darling Homes brands and in Canada under the Monarch brand. Taylor Morrison is a builder and developer of single-family detached and attached homes serving a wide array of customers including first-time, move-up, luxury and active adult customers. Taylor Morrison divisions operate in Arizona, California, Colorado, Florida and Texas. Darling Homes serves move-up and luxury homebuyers in Texas. Monarch, Canada's oldest homebuilder builds homes for first-time and move-up buyers in Toronto and Ottawa as well as high rise condominiums in Toronto. For more information about Taylor Morrison, Darling Homes or Monarch, please visit www.taylormorrison.com, www.darlinghomes.com and www.monarchgroup.net.
Riverstone is a 3,700-acre master-planned community near U.S. 59 and Highway 6, The Fort Bend Parkway Toll Road and Texas 288. Well-known production and custom builders have completed 1,000 homes in the development, which is designed for 6,000 homes during the next three years, 250 acres of lakes, 20 miles of hike-and-bike trails and 500 acres of open spaces and park lands. Housing styles range from townhomes, patio homes, garden homes and single-family homes to multi-million-dollar homes on homesites as large as a half-acre. The Johnson Development Corp. is the developer of the community, which offers a premier Fort Bend location. To learn more about the amenity-rich neighborhoods of Riverstone, visit www.Riverstone.com.
About Johnson Development Corp.
The Johnson Development Corp. is a Houston-based, award-winning residential and commercial land development company. For more than three decades, the company has set the standard for successful master-planned communities in Houston, Atlanta and other markets around the country. Its impressive collection of Houston-area communities includes Riverstone, Sienna Plantation, Cross Creek Ranch, Woodforest, Fall Creek, Tuscan Lakes, Edgewater, Harmony, Willow Creek Farms, Silverlake and the new Imperial re-development. Johnson Development’s communities in Atlanta include Towne Lake, BridgeMill and Lake Arrowhead. The company also provides outsourced development services for property owners, homebuilders and other parties on a fee basis to help realize the potential of their land positions. For more information on Johnson Development, visit www.johnsondevelopment.com.
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