Feser: Meritage Homes launches 1,000-home community near Lake Houston in Crosby
Meritage Homes has acquired 241 acres off FM 2100 and Foley Road in Crosby for a new community named Sundance Cove.A community expected to have almost a thousand homes is taking shape in a growing region of Crosby, on the east side of Lake Houston.
Sundance Cove will be a welcome addition for the region, which has been popular among residents who grew up in Crosby and surrounding areas, said David Jarvis, a principal at John Burns Research and Consulting, which tracks U.S. housing markets. The development comes as mortgage rates have retreated from a peak of 7.1 percent in November, according to government-sponsored mortgage finance company Freddie Mac. The average rate for a 30-year mortgage was 6.3 percent Thursday.
Palmetto Pontikes is breaking ground on a 450,770-square-foot rail-served building scheduled for completion in the third quarter and a 179,000-square-foot building set for delivery in the fourth quarter. Port 10 Logistics Center in Baytown is opening a rail service component and breaking ground on two more industrial buildings. So far, four buildings have been completed totaling more than 860,000 square feet.Since breaking ground on Port 10 Logistics Center in 2018, Pontikes Development and McNair Interests have completed four buildings with more than 860,000 square feet. The buildings are fully leased, with FedEx Ground as the largest tenant.
George Pontikes, principal of Pontikes Development, said Port 10’s new rail service component enables customers to optimize their production and distribution economics and offers improved accessibility to the Baytown area.
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