In a project meant to offer so-called attainable housing, Houston-based global real estate powerhouse Hines is planning a 2,100-home community in Brazoria County.
An outline of where Hines' new Iowa Colony community is proposed in south Brazoria County near Sandy Point.In a project meant to offer so-called attainable housing, Houston-based global real estate powerhouse Hines is planning a 2,100-home community on almost 1,000 acres in Brazoria County.
The company says the community will offer so-called attainable housing, or houses affordable to households making the area's median income. Home prices at the community are expected to range from the $300,000s to $700,000, according to Hines, with some houses likely outside the standard definition of attainable housing.
The average home price in Iowa Colony is about $427,000, slightly above the Houston-area's average home price of $408,647, according to Houston Association of Realtors. Hines expects to break ground on the community, which doesn’t yet have a name, in the second quarter of 2023. The first phase is expected to be complete in 2024, with about 400 homes available by early 2025.
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