Houston Business Journal by Allison Wollman March 27, 2009Development of the first-ever master-planned community in Waller County has gotten under way despite a continued housing slump.
New Waverly Sound Investments LLC has begun infrastructure work on a $120 million, 300-home master-planned community called Kickapoo Preserve in Eastern Waller County. The community will consist of oversized lots ranging from .75 to 1.5 acres.
Rajan Shamdasani, developer of Kickapoo Preserve and president of Houston-based New Waverly Sound Investments, says he paid cash for the 400 acres of land about two and a half years ago and has spent almost two years designing the community.
“Since we paid all cash, we were in no rush to do things that were less than perfect,” he says. “We are very confident in our plans and do not feel the economy or housing slump will be a drag on our plans.” Read Full Article (pdf)
Houston Business Journal by Nicole Bradford
Development under way in east Waller County
Construction is set to begin this month on Kickapoo Preserve, a new community to be located in east Waller County northwest of Houston.
The development will include 300 lots, three parks and a gated section to be called Kickapoo Estates. Lots within Kickapoo Preserve will range from 3/4-acre to 1 and a half acres. Phase 1 will begin with 48 home sites.
The 400-acre area is being developed by New Waverly Sound Investments LLC.
Preliminary numbers for the development show an overall projected investment of $120 million. This includes approximately $1.8 million investment in landscape design and construction, and an entry monument in the range of $250,000.
The average home value is projected to be around $300,000 within Kickapoo Preserve, bringing the estimated total residential property value to about $90 million. Read Full Article (pdf)