After announcing it acquired its first community in Austin, Johnson Development Corp. wants to find more, said Doug Goff, co-president and chief operating officer.
“We were looking in the Austin market for a number of years,” Goff said. “This was the first time we were successful negotiating a deal.”
Johnson Development bought Bryson, a 530-acre community in Leander, from North Carolina-based Crescent Communities for an undisclosed price. Goff expects to bring some builders from other Johnson Development communities into Bryson, but said the community already has a lot of the groundwork in place for a true mixed-use development, such as a large recreational complex and a site for a future elementary school, as well as other commercial space.
The Houston-based company will stay busy in 2019 looking for potential sites in the Dallas-Fort Worth market, across Houston and in other states, including Florida, Tennessee and the Carolinas, Goff said.
Johnson Development has 14 active communities under development in Houston, two in the Dallas market and one in Atlanta. Goff said the company also plans to bring a new community northwest of Houston to market sometime next year. It will be the company’s first venture into that region.
Though he wouldn’t share details regarding total acreage or number of homesites for the project, he confirmed the community will be located on the same 1,600-acre tract Johnson Development bought in 2017, located southwest of U.S. Highway 290 and Katy Hockley Road in northwest Harris County, a few miles west of the Grand Parkway. Rockspring Capital, a Houston-based real estate investment firm, sold the property to Johnson Development, the Houston Business Journal previously reported.
The development will “have something a little different” than other communities in the area, Goff said. It will be north of Bridgeland, the 11,400-acre community developed by Dallas-based Howard Hughes Corp.
Howard Hughes plans to start road work to pave the way for Bridgeland’s next 6,000-acre phase, Prairieland Village, HBJ reported in November. Prairieland Village would be the third out of four villages within Bridgeland and the first to sit west of the Grand Parkway.