Northwest Houston Community to Include 2,200 New Homes, Feature Crystal Lagoon
CBA Land Capital, an alternative financing firm providing land banking for proven developers, today announced that the company closed a 150-acre land banking deal to build a new master-planned community, Cypress Green, with Land Tejas Development, the largest master-planned community developer in Houston. Located off of FM 2920 in the strongest new home corridor in Houston, at its completion, Cypress Green will include more than 2,200 new homes and showcase a Crystal Lagoon, the centerpiece amenity to other developments like Balmoral in northeast Houston and Lago Mar in Texas City.
“Despite COVID-19 and a dip in oil prices, the new home market in Houston continues to break records. There’s more demand than inventory and the strongest sales activity falls in the $200K to $400K price range,” said Paul Connor, Principal and Founder of CBA Capital. “Cypress Green offers homebuilders the lot size and lot pricing to build and sell homes in this optimal price range. Over the next 5 years, Cypress Green will become the desired master-planned community among families and homeowners and, in turn, create opportunities for homebuilders, and retail and commercial businesses.”
Land Tejas Development built the top-selling Balmoral and Lago Mar master-planned communities totaling nearly 3,000 acres. CBA Land Capital’s non-traditional finance structure allowed Land Tejas to focus on the acquisition and initial phase of the developments, which is critical to the long-term success of a larger, master-planned project.
According to Meyers Research, healthy, balanced markets should target 20-24 months new home lot supply. Houston’s current supply is 17.8 months and trending lower creating mass amounts of opportunity for developers and homebuilders. However, in today’s lending environment, the requirements for a traditional financing structure can stretch a company’s capital resources and balance sheet to its limits. Securing and maintaining positions in the market, whether land or lots, is crucial to the continued growth of homebuilders and developers. CBA Land Capital LP is a non-traditional lender and offers a structure to alleviate capital and resource strains placed on homebuilders.
ABOUT CBA LAND CAPITAL
Headquartered in Houston, CBA Land Capital works with residential developers and homebuilders primarily in south-central Texas to assist and provide capital structures allowing for the acquisition and development of land and lots. The team’s understanding and knowledge of land development, local market conditions, and capital markets provide a unique combination of skills to assist with structuring a project. For more information, please call 281-602-0600.