Rendering of a Landsea Homes build in the New Braunfels master-planned community of Vintage Oaks. LANDSEA HOMES

Austin Business Journal reports, "months after relocating its headquarters to North Texas from Southern California, a national homebuilder is erecting residences in one of Central Texas’ most explosive cities.

Dallas-based Landsea Homes (Nasdaq: LSEA) purchased 84 lots to build on within Liberty Hill’s sprawling 688-acre Lariat neighborhood — developed by Liberty Hill-based Randolph Texas Development LLC — the homebuilder announced Aug. 3.

Landsea, which announced its corporate relocation to Dallas in March, now has more than 1,000 homes planned for cities surrounding Austin. And, according to Landsea’s website, Central Texas is the state’s only region Landsea has projects being worked on in.

Landsea’s offerings within Lariat will be varied, according to the announcement. The 84 homes will have five different floor plans that range from one- to two-story builds with a footprint ranging from 1,500 to 2,200 square feet. Homes will be equipped with smart home technology such as wireless internet, entry door locks, thermostat control, light dimmers and doorbell camera pre-wiring. Some homes will also include high-end features, such as pocket offices and gourmet kitchens.

Prices will be announced at a later date. For comparison’s sake, Tri Pointe Homes announced in May it would build 334 homes within Lariat that range from three- to five-bedrooms and 1,616 to 2,969 square feet. Those homes are starting in the mid-$300,000 range, according to Tri Pointe’s website.

Once complete, Lariat will be home to 1,692 single-family residences near County Road 214, between State Highway 29 and the north fork of the San Gabriel River. Amenities proposed for the development include a $4 million-plus resort-style amenity and activity center featuring a pool, a large playscape and splash pad, a covered pavilion, pocket parks, fish-stocked ponds and a 7-mile trail system.

It’s not just homes and amenities being built in the neighborhood. Lariat is within Liberty Hill’s school district, and there are plans to build a school on a 12-acre site within the neighborhood.

Landsea and Tri Pointe aren't the only builders raising homes in Lariat. Other builders involved include Ashton Woods, Chesmar Homes and Perry Homes, according to Lariat’s website.

Liberty Hill is one of the fastest-growing suburbs surrounding Austin. Its population has grown from 967 in 2010 to an estimated 9,099 on July 1, 2022, according to U.S. Census Bureau data. That’s a staggering 841% growth rate. With almost 1,700 homes coming to town, the new rooftops showcase a continued population boom. It certainly appears that migration to the suburb isn’t slowing down, as the city’s Santa Rita Ranch development has claimed the title of top-selling master-planned community in the Austin area for three years running.

Landsea views Texas as a high-growth housing market, founder and CEO John Ho told Dallas Business Journal in March.

“Right now, we're just starting up in Austin. Our division office is in Austin right now, with a division president there,” he said. “Part of the reason why we're choosing to locate our corporate headquarters in Dallas is because we really want to build a business in Dallas-Fort Worth and also in Houston.We see Austin, Dallas and Houston as the large markets in the state of Texas that we want to invest in and have a large, sizable presence in each of those markets.”

Landsea originally entered the taxi market via the acquisition of Florida-based Vintage Estate Homes in 2021, Ho explained. While Vintage Estate Homes was based primarily in Orlando, the firm also had Texas operations which “gave us a foothold in the Austin-San Antonio marketplace.”

Today, Landsea is active in multiple planned communities around the metro. In Kyle, the builder is erecting 880 single-family homes in the Anthem, and in Round Rock it is planning 28 homes within the Avery Centre neighborhood."


Source: Austin Business Journal

Written by: Cody Baird

Published: August 7, 2023


Posted by Grossman & Jones Group on


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