I just found out that The Woodlands is getting a new neighbor, The Woodlands 2.0. This will be another 2,000 acre master planned community just north of the current location. This will be right between Conroe and The Woodlands.:
The Howard Hughes Corp. the owner and parent of The Woodlands Development Company noted that the community will be located 13 miles north of the Woodlands. Can you imagine a new and improved Woodlands? I heard that the same firm that designed The Woodlands is also designing the new property. Consistency is the key, as The Woodlands has been highly successful.
The company said it acquired a little over 1,343 acres of undeveloped land in May for about $67.3 million, and it’s under contract to acquire another 652 adjacent acres from a different seller. That deal is expected to close in September. The preliminary split will be 1,834 acres of residential property and 161 acres of commercial. The first homes are expected to start in 2016. All in all, they are hoping for over 4,600 total residential lots. I am sure that the price ranges will vary just like the original area of The Woodlands. The timing of the new development will depend on several factors, including market demand for the residential and the commercial properties.
Meanwhile, back in The Woodlands, this area is almost out of lots, Houston Business Journal previously reported. The 28,000-acre master-planned community is expected to have 33,210 total lots at build-out, which is expected in 2018.
The Woodlands Development Company is completing a 66 acre Hughes Landing that is expected to be completed in 2015.