Sundance Cove on Lake Houston's eastern shore to start home sales this summer

Meritage Homes plans to build more than 1,000 homes in Sundance Cove.

Sundance Cove on Lake Houston's eastern shore to start home sales this summer

The first model home in a 581-acre development on the eastern edge of Lake Houston will be opened soon.

Meritage Homes, based in Scottsdale, Arizona (NYSE: MTH), has finished the infrastructure and lots of its 241-acre Sundance Cove section on Foley Road. The company expects to have three model homes open by late summer.

Senn revealed that Clay Road 628 Development LP is a partnership formed by long-time developers Ronnie Matthews & Perry Senn. They are master planning Sundance Cove which will house about 1,900 houses.

Meritage Homes said that it had broken ground in its section during the first quarter of 2013 and planned to build over 1,000 homes.

The homebuilder announced that it would offer three different types of homes. The Traditional Series with lots measuring 40 by 120 feet will begin in the low $200,000. Premier Series homes on 45-foot-wide lots start at mid-$200,000s. The Classic Series with 50-foot lot homes will begin in the mid-$200,000s.

There are more than 24 floor plans, with sizes ranging from 1,287 square feet to 2,991 sq. ft., including island kitchens, upgraded cabinets, granite countertops and backsplashes, pendant lighting, game rooms, and covered patios.

Meritage will offer homes in a 'Live.Now Community', designed to make home ownership more affordable for homeowners. Monthly mortgage payments are lower.

The homes will be equipped with features that save energy and money, including spray-foam insulating, Energy Star appliances, tankless water heaters and Low-E glasses.

The homebuilder anticipates completing amenities by summer 2025. The amenities will include a splash-pad, swimming pool and recreation center. Meritage also touts its easy access to Lake Houston recreation.

Senn stated that Clay Road was in talks with "several builders" to build the remaining 340 acre parcel. The master-planned development will include retail.

Matthews and Senn acquired the land and development plans for Sundance Cove in early 2021 from Madison/Foley LLC. This joint venture was between Rick Wilkerson, of California's Madison Development LLC, and Michael Bolin and John White, of Texas' White & Bolin Construction Inc.

Madison/Foley first announced its planned development in 2016.

Sundance Cove is one of many planned residential communities located in the Crosby Independent Schools District.

According to Zonda, a real estate data company, as of December last year, there were 25 residential subdivisions in Crosby ISD that are planned or existing, with nearly 2,400 homes. Sundance Cove is not included.

The Houston Chronicle reported in November that Crosby ISD had commissioned a demographic study and projected that more than 10,000 new students would be added to the school system over the next decade.

Crosby is not the only place where growth has occurred. Since the Grand Parkway's eastern section was opened in May last year, more and more developers have been building between Lake Houston and the small towns Dayton & Mont Belvieu. Both cities anticipate that their population will double or triple over the next few years.

Brokers say that while there are still many vacant lots in the east Houston area, many long-time landowners have decided to sell their properties as the property values in this area continue to rise.

According to its website, Meritage Homes is currently building in 24 communities around Houston.

The homebuilder has announced plans to build 865 homes at Lake Conroe by 2021. It announced that it would build 156 homes between August and September of 2020 in Conroe. It announced plans to build a 169 home community in Texas City, and an additional 156 homes between January and March of 2021.