Toll Brothers to build gated luxury community, Tres Lagos - Estates Collection - in spring as Houston luxury home sales rise

2022-06-16 19:10:18 By : Ms. Jane Ni

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A new gated community is planned in Spring, Texas as sales of homes priced over $1 million rise in the Houston area.

A new gated community is planned in Spring, Texas as sales of homes priced over $1 million rise in the Houston area.

National homebuilder Toll Brothers is launching its latest luxury residential project in the Houston area with a small gated community in Spring, as sales of homes priced over $1 million in Houston continue to rise. 

Toll Brothers unveiled plans this week for Tres Lagos – Estate Collection, a neighborhood of so-called estate style large homes within the  MacKenzie Park community of Spring north of downtown Houston. 

The houses will range between 3,600 square feet to 5,400 square feet with a price point ranging between $900,000 to $1.1 million, according to the company. 

“Tres Lagos is the final section with new home opportunities (in MacKenzie Park). Toll Brothers purchased finished home sites within the community, and we look forward to welcoming our new Toll Brothers home buyers to the neighborhood,” said David Assid, Toll Brothers Division president, in a statement.

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Tres Lagos properties will be built on 100-foot wide lots with modern designs featuring dramatic entrances, open kitchens, home offices, walk-in closets, three and four-car garages and open floor plans ranging from four to six bedrooms and 3.5 to six bathrooms. The community features three existing lakes, according to Toll Brothers, and it’s about 5 miles from the Augusta Pines Golf Club.  Toll Brothers has opened a sales center at 23202 Vista De Tres Lagos Drive in Spring and is currently building a model home for Tres Lagos. 

The project comes as sales of luxury homes are climbing in Houston despite rising home prices rise overall. In May, sales of homes priced between $500,000 to $999,000 jumped by 38 percent, according to Houston Association of Realtors. Sales of properties priced at above $1 million rose 30 percent in May, according to HAR.

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While rising mortgage rates are deterring some would-be buyers in Houston, particularly entry-level and first-time buyers, those in the so-called “move up” or luxury market are still scooping up properties quickly.

“I think the market is continuing to be strong as we’ve seen for the first part of the year,” said Lisa Kornhauser, a Houston real estate agent with the real estate firm Compass, which specializes in luxury real estate. “In reality interest rates are still relatively low compared to what they had  been in years past (pre-pandemic) and there is still low inventory which means it’s still a sellers’ market.”

Marissa Luck covers real estate for the Houston Chronicle.

Originally from Hawaii, Marissa previously covered refining and chemicals for the Chronicle and also had stints at Costar, the Austin Business Journal and The Daily News in Longview, Wash.

She grew up near Seattle and studied international political economy at The Evergreen State College in Olympia, Wash.

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