Bridgeland + General Growth = ??? (house, to buy, prices)

[tyger7000]

Originally Posted by shoffman83

I am sorry to disagree with Mr. Football. Look at poor Stonegate. People have lost there shirts in there. Yes I think Bridgeland will continue to be built out, but per the original plan? Doubt it. Smaller lots, less expensive homes, anything to get value out of their original land investment. Cashflow is King to developers and builders. I am looking for a new home, and I love this area (I currently live in Longwood), and I can tell you honestly... Bridgeland is off the list because of the risk!

What happened in stone gate? A friend of mine lives there looks like a nice neighborhood to me. I hope bridgeland continues to build out it is a beautiful neighborhood.

[westres1]

I think he is referring to the fact that Stonegate has not held its value

[Mr. Football]

Stone Gate is a nice community but it has a great deal of competition in a booming area, so that wouldn't be too surprising. There are two parts of Stone Gate if I'm not mistaken that are zoned to two different High Schools and have different price points. I would think the part zoned to Cy-Fair HS would be more desirable and fare better. HAR doesn't show any loss in value for Stone Gate up through 2007, so if there was some loss in value, it must've happened over the past year.

I had heard that Stone Gate's developer offered some easy financing as they were building out those newer sections and there was a higher than avg (for this area) foreclosure rate. Add to that fierce competition from new communities with elaborate plans like Towne Lake, Bridgeland, Blackhorse, Cypress Creek Lakes, Copper Lakes etc (not too mention the wooded neighborhoods just across 290 like Coles Crossing, Longwood, Northlake Forest, etc).

On the South side of 290, the lack of trees means you have to have something unique to offer in order to differentiate your community. Stone Gate has the links style Houston National course. Towne Lake has boating, a planned waterfront, central business district, Bridgeland a huge Master plan, Blackhorse has an awesome golf course and the surrounding Fry Rd communities have lakes and big old Post Oak trees and the picturesque Cypress Creek woods meandering through them.

[LowBoost]

Well... It's been almost a year since the last post. I wonder what people have to say about Bridgeland now? It's been selling pretty well. And now that there's a slight pick up in economy I am seeing a lot of homes being built.

I have been around and still looking for a home, and we keep coming back to Bridgeland. I think we have find our new home. We'll see.

[KerrTown]

Originally Posted by shoffman83

I am sorry to disagree with Mr. Football. Look at poor Stonegate. People have lost there shirts in there. Yes I think Bridgeland will continue to be built out, but per the original plan? Doubt it. Smaller lots, less expensive homes, anything to get value out of their original land investment. Cashflow is King to developers and builders. I am looking for a new home, and I love this area (I currently live in Longwood), and I can tell you honestly... Bridgeland is off the list because of the risk!

Bridgeland sounds like the Brentwood Park area after reading that thread last night. That community was not finished according to the original plan due to the mid-80's bust and the neighborhood being composed of late 70's starter home Victorians, early 80's homes, and the majority being recent construction budget homes.

[Mr. Football]

Bridgeland recently won National Master Planned Community of the Year. I think it'll be just fine, Kerrtown.

[pc50]

The only concern I see is traffic. Will the Grand Parkway ever be extended north of 10? With over 10,000 acres left to develop some innovative type of roadway financing will have to come to light to get a north-south roadway built to provide access to the south.

[Supermac34]

The tract sections of Bridgeland have been going along at a very moderate pace. Not blowing up, but not dead either.

THe custom sections have finished homes sitting for about 2 years now. I think that is the part that has the potential to be resurrected when the housing market improves.

You can probably walk in and get a custom home under cost right now.

[EasilyAmused]

Originally Posted by Supermac34

The tract sections of Bridgeland have been going along at a very moderate pace. Not blowing up, but not dead either.

THe custom sections have finished homes sitting for about 2 years now. I think that is the part that has the potential to be resurrected when the housing market improves.

You can probably walk in and get a custom home under cost right now.

yeah, I noticed a lot of 2007's sitting empty, never lived in. Where is the retail for this community? If it's not already built, I can't image it's going to come anytime soon. It's location and traffic issues remind me a lot of Champions... not to mention "construction during the bust."

[Supermac34]

I believe that if you look at the long term plan for the community, there are plans for designated retail, very similar to the Woodlands.

In the shorter term, you'd have to drive down 290, I guess. Not sure.

I think another reason the custom section has done poorly is that they were priced too high. In most master planned neighborhoods that have "mixed media" type housing (patio homes, tract homes, custom homes, "estate" section), there is a pretty well established price point for each section that divides the market properly. The problem in Bridgeland is the lot prices were priced too far apart for the custom builders to compete with the upper end tract homes. The biggest problem is there is almost no difference between the tract and custom section lots. Both sections have lake lots, both sections are about the same lot size, and in fact, if you purchase the custom homes, you are right across the little lake from a tract home. There really isn't a motivation to pay the premium built into the lot price and carried into the house price. So now, rather than the custom homes being 20% better, but being priced 20% higher, the custom homes are 20% better but cost 25-35% higher. Just my 2 cents.