McGrath Real Estate Partners recently broke ground on phase two of its 1,500-acre Riceland master-planned community in Mont Belvieu, adding 311 home sites.
The new, 138-acre phase will include the Lakehouse Recreation Center and the development of Sweetgum Park.
Riceland will hold its official grand opening for the public on Sept. 21. Nine model homes by Chesmar Homes, David Weekley Homes, Highland Homes and Perry Homes will be open for viewing.
Riceland, which is 35 minutes outside of Houston, will include 4,500 homes upon completion. Its first phase covers 144 Acres, has 417 completed home lots and 85 homes under construction. The community will also have 30 miles of trails, a 10-acre stocked lake, resort-style pools, parks and a town center, which will incorporate Mont Belvieu City Hall and a newly opened fire station.
Vancouver, Canada-based Trez Capital provided $40 million in financing for the second phase. It also provided the financing for phase one.
“We’re eager to begin two exciting new amenities for the community and to continue collaborating with the City of Mont Belvieu on developing a city-wide path and trail system that will enhance walkability and continue to build on the community-focused lifestyle Riceland has to offer,” McGrath Vice President Randy Hopper said in a press release.