Ashton Gray eyes 560-home master plan – Industrial development in Waller, northwest of Houston, has created housing demand

The Real Deal

Ashton Gray Development started its first master-planned community in the Greater Houston area.

Dubbed Oakwood Estates, it is a 183-acre single-family home development with 563 lots, including 12 acres for commercial use, the Houston Business Journal reported. The master-planned community will be located at Knebel and Field Store roads north of Waller, with one- and two-story homes ranging from 1,800 to 3,000 square feet. The project is expected to offer homes starting at $250,000 up to the $400,000 range, or about $139 per square foot.

The community will feature a 28-acre lake with a mile-long trail and a 1.4-acre park that includes a recreation center, resort-style pool and children’s playground. Landscape architecture firm Bruno Land Design will helm the design of the community while Meta Planning + Design will lead the land planning operations.

The Sugar Land-based Ashton Gray purchased the land in May 2021 and signed national homebuilders to begin construction on the community early last year. David Weekley Homes, Ashton Woods Homes, Gehan Homes and K. Hovnanian Homes have already begun constructing model homes with lot developments also in progress. Initial home sales are expected to close in Oakwood Estates this summer.

The company chose Waller due to its location a few miles from highways 290 and 99 as well as the township’s manufacturing and industrial job market, Mark Janik of Ashton Gray told the Houston Business Journal.

Waller and the larger Northwest Houston submarket represent the metro’s largest industrial market, comprising 28 percent of total industrial space in the fourth quarter of 2022, according to real estate research firm Avison Young. Many industrial projects are underway in the submarket. Houston-based development company Parkside Capital has set its eyes on the small industrial town, bringing 2.5 million square feet of warehouse space to the area, while Avera Companies and Pagewood are bringing a combined 1.8 million square feet of additional industrial space.

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