Houston homebuilder, Taylor Morrison, purchased a 575-acre parcel in Fort Bend’s Riverstone community from The Johnson Development Corp., the single largest undeveloped tract remaining in the area, which will increase its stake.
Taylor Morrison officials said the purchase is a perfect fit for the homebuilder, which currently builds in the 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, according to 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,” he said. “The opportunities for homebuilders 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 general manager, Tom Wilcox, said he anticipates an enthusiastic reception from prospective homebuyers.
“We’ve had people waiting overnight when Avalon at Riverstone was launched,” he said. “Taylor Morrison has developed a brand and a home that resonates with discriminating buyers.”
The company is thrilled to have a large stake in this community, because reports confirm that buyers find it a desirable place to live. 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 stats, respectively. Robert Charles Lesser & Co. lists Riverstone as the No. 7 top-selling community in the nation.
“Our buyers understand the importance of a quality location,” White said. “Riverstone has all of the thigns that any discerning homebuyer would want in a neighborhood.”