After 18 years of new home sales and more than 5,700 homes sold, one of the nation’s top-selling master-planned communities is nearing the end of its development cycle. Only about 12% of the community remains for new home sales, said Trey Reichert, Vice President and General Manager of Riverstone in Sugar Land, Texas.
“We have about 760 home sites remaining, including developed and undeveloped properties,” he said. “We no longer have any 55-foot lots left in Riverstone and will soon be sold out of 50-foot and 65-foot properties. I estimate there are probably only two years of new home sales remaining, possibly less.”
Eleven builders offer new homes in Riverstone, where pricing ranges from the $330,000s to the millions. The builders sold 189 homes in the Fort Bend development through the first half of 2018, placing it at No. 41 on a mid-year report released by Robert Charles Lesser & Co. (RCLCO).
“For years, Riverstone has been included on the list of top-selling communities, often ranked among the top 10 or top 25,” Reichert said. “We have substantially fewer home sites available this year, but we are still pleased with the velocity of sales.”
Riverstone offers homes with Missouri City and Sugar Land addresses, and represents one of the few opportunities remaining to have a new home with a Sugar Land address, Reichert said. Other draws include amenities such as The Club at Riverstone, which offers a resort-style pool, tennis courts, a splash pad, the Adventure Park playground and a well-appointed clubhouse with fitness center. Children attend highly rated schools in the Fort Bend Independent School District, including Sullivan Elementary located on-site. Kroger opens this fall in The Shops at Riverstone, a 165,000-square-foot shopping center within the community.
“The end of the development cycle is in sight, but we are in no way slowing down,” Reichert said.
