Colliers is pleased to announce the purchase of ±80 acres located on FM 1097 in Montgomery, Texas. Pulte Homes purchased the acreage with a plan to build Montgomery Bend, a single-family community with 45 by 120-foot lot sizes. The buyer, Pulte Homes of Texas, was represented by James Kadlick, Harrison Kane and Chris Hutcheson of Colliers.
“The greater Houston area is in a great position compared to many other cities around the country,” said Senior Vice President Harrison Kane of Colliers. “Houston is not overbuilt in the single-family space. The fundamentals here will drive new home development and land acquisitions despite any headwinds or interest rate hikes.”
The development property is located in Montgomery County off of FM 1097. The Montgomery City Council gave support for the community at the July 2022 council meeting. Traditionally, the city has required 50 to 75-foot lots at a minimum. The development plan will include 309 homes between 1,400 and 2,600 square feet.
Pulte Homes is based out of Atlanta, Georgia, and operates in 67 markets within 29 states as well as the District of Columbia. Since its founding in 1950, it has become the third-largest home construction company in the United States based on sold homes. The company offers luxury amenities in desirable communities in close proximity to major cities. There are currently seven communities in the Houston area with 57 available floor plans.
About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $65 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
