The Walton Group of Companies said Thursday it has acquired a 1,445-acre land tract located off State Highway 288 fronting FM 1462 in Alvin, about 25 miles south of Houston.
The company said the site will be the location of a new master-planned community with homes, schools, neighborhood commercial and open spaces. This acquisition marks Walton’s entry into the Houston Market, the 2nd largest new-home market in the nation.
The property offers proximity to transportation corridors (Highway 288 and the future expansion of the Grand Parkway). The future extension of Grand Parkway will run adjacent to the Property. It is anticipated that the future highway will provide residents with access to numerous employment centers in Houston, including the Texas Medical Center, William P. Hobby International Airport, Port of Houston, the Houston Energy Corridor and the Central Business District of Houston.
“The area has already seen development along the Highway 288 corridor with a number of large master-planned communities currently under development.” Said Becky Collins, general manager of Walton Development and Management. “As master-planned communities in Pearland approach full buildout, suburban development is marching south to the Alvin and Manvel area. The addition of the 288 toll lanes together with the extension of the Grand parkway [are] poised to bring a new wave of residential and commercial development to the south Houston area.”
Walton Development and Management has preliminary plans for the property that anticipate bringing a variety of housing product types to the property. The proposed concept plan will have more than 2,500 single-family lots. In addition, it will plan for commercial and retail uses along FM 1462, with recreation and open space for the master-planned community. Walton will be working with the City of Alvin and Brazoria County to move the project forward.
This article originally appeared on Builder Online.