Texas Residential Development

6 Replies

Hello BP Members, 

I was looking for development property within Texas. What are some of the areas that are trending/hot at the moment and have a good scope over the next few years in terms of house and other development happening? I am open to all suggestions. Thank you!

Good morning Abhi! That's a pretty general question - is there any additional information that can be provided?

Generally, the TX real estate market is very strong and thriving right now as companies and individuals are relocating and the state supports a robust economy. There's a lack of "attainable" (not affordable as I was told recently by a city official) in many of the desirable metros and suburbs. That's a play there, but land is so expensive now that unless you buy it years in advance, your upside potential is going to be limited.

You might have some luck with manufactured park development as there's a growing need for that product, yet it's not sexy and so no one focuses on it.

@Abhi Patel Hot emerging markets in Texas that I know of right now are in the Anna area (North of Plano and Dallas), Haslet area (North of Fort Worth), Aledo (West of Fort Worth), Georgetown (North of Austin), Buda (South of Austin, Northeast of San Marcos). All of these places have a bunch of new construction going on, mostly driven by large developers. Not sure on cost of land in any of these areas.

Good luck with development! Hope to see a success story soon.

Originally posted by @Michael Jones :

Good morning Abhi! That's a pretty general question - is there any additional information that can be provided?

Generally, the TX real estate market is very strong and thriving right now as companies and individuals are relocating and the state supports a robust economy. There's a lack of "attainable" (not affordable as I was told recently by a city official) in many of the desirable metros and suburbs. That's a play there, but land is so expensive now that unless you buy it years in advance, your upside potential is going to be limited.

You might have some luck with manufactured park development as there's a growing need for that product, yet it's not sexy and so no one focuses on it.

Better have a strong legal/lobbying budget as most incorporated areas won't allow such a use or at least actively discourage it. They would much rather have SFR neighborhoods coming in.

@Seth Teel Great info. Thanks for sharing

@Michael Jones I didn't know any major municipality still allowed development of manufactured home communities. @Ronald Rohde might be right. I know you can typically do it still in unincorporated county areas across the state but at least up North it is basically shut down.

I would love to open one in West or South Fort Worth where there is open land and economic levels aren't high.