Bold Fox Development delivers 1st lots in 2 new communities in Waller County

 

Bold Fox Development last month delivered the first phase of homesites to builders in its two newest communities, both in Waller County.

Attwater and La Segarra are The Woodlands-based developer’s third and fourth residential communities since it was founded in 2019 by Alex Kamkar.

Bold Fox announced Attwater, a 470-acre community on the northwest corner of FM 362 and Owens Road, near the city of Waller, in 2021 and started construction in 2022, Kamkar said.

It sold the first 220 lots to Chesmar Homes, HistoryMaker Homes and Empire Communities, and home construction is already underway, he said. Bold Fox partnered with the builders for the purchase of the land for Attwater, with each contributing equity.

“We generally like to have a builder partner,” Kamkar said. “It helps stabilize the deal. It’s nice to know who your future customer is.”

He expects sales to start in the first quarter of next year and first residents to move in by the second or third quarter.

The 1,500- to 4,500-square-foot houses on 55-, 60- and 70-foot lots will be priced from the low $300,000s to the mid-$500,000s, Kamkar estimated.

Future lots will come in several phases of about 200 until the build-out at around 1,200 homesites, he said.

Community amenities will include a 4-acre park with an outdoor amenity center, ball fields and a work-play-rest area. Kamkar expects construction to start on the park in mid-2025 and the amenity center by late next year.

The land fronting FM 362 will be reserved for future commercial development, and the hope is to have a school in the community.

“We’re actively working with Waller (Independent School District) on possibly putting that together,” Kamkar said.

Attwater is just across the road from Long Lake Ltd.’s 270-acre Beacon Hill residential community.

The community is named after the Attwater Prairie Chicken, a critically endangered species that can be seen at the Attwater Prairie Chicken National Wildlife Refuge in Colorado County, about 60 miles west of downtown Houston.

Bold Fox’s other new community, the 215-acre La Segarra, named after the region in Spain, is on Gassner Lane just east of FM 362, north of Brookshire.

It’s designed for about 750 single-family homes on 40-, 50- and 60-foot lots, ranging between 1,300 and 2,200 square feet. Bold Fox has delivered the first 117 lots to Smith Douglas Homes, Cyrene Homes and TriCoast Homes.

They will range in price from the $200,000s to the $300,000s, the developer said.

At a time of rising home prices and high mortgage rates, which leave many first-time homebuyers priced out, Bold Fox is focused on affordability.

The company is able to keep home prices relatively low in part because it was able to acquire the land for its new communities at pre-Covid pricing, at around $30,000 an acre, Kamkar said.

“Now, prices in various parts of the area are $50,000, $60,000 (or) $70,000 an acre, which really hampers affordability long term with regard to housing,” he said.

In addition, the developer aims to keep homeowners association fees low and bring in affordable dry utility providers, Kamkar said.

Before Attwater and La Segarra, Bold Fox developed two much smaller communities: the 45-acre Venetian Pines in Conroe and the 21-acre Cherrywood Estates in Tomball.

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