Centex Homes has acquired 137 acres of land just east of Katy Mills Mall with plans to create a 500-home community called Mills Lake.
Centex acquired the property, located at the northwest intersection of Kingsland Boulevard and Katy-Fort Bend Road from Sheffman Investments.
Sheffman Investments has retained 137 acres along Kingsland Boulevard and Katy-Fort Bend Road for future commercial real estate development.
For more real estate information in the Katy area, fill out this form.Centex, a unit of Dallas-based Centex Corp. (NYSE:CTX), will be the developer and exclusive home builder for Mills Lake, where land development activity is expected to commence by the first quarter of 2005.
Construction of the first new homes is planned to begin in the fall of 2005.
Centex plans to build under its Centex Homes and Fox and Jacobs Homes brand names in Mills Lake.
Currently, Centex Homes and Fox & Jacobs Homes offers new homes priced from the low $100,000s to $200,000s in a variety of neighborhoods in the Houston area.