KLEIN ARBOR
Klein Arbor’s development continued Raj Development Corporation’s realization of increasing the underlying value of its holding in MUD 180 while meeting market demand.
PROJECT NAME
Klein Arbor
LOCATION
Northwest Houston / Harris County
MARKET SEGMENT
Single Family Gated Community
NUMBER OF UNITS
123 Lots
CURRENT STATUS
Completed in 2017
VALUATION
Approximately $31 million
INNOVATION MEETS MARKET DEMAND
Development of the Klein Arbor subdivision was undertaken to respond to a growing demand for the demonstrated value and security offered by a gated subdivision, while achieving the goal of supporting a higher density mode of development. Composed primarily of 45’ lots, with oversized corner lots, the homes in Klein Arbor were specified as exclusively two story plans, ranging in size from 1,900 – 3,200 square feet. RDC designed and completed the development of this innovative formulation for a new subdivision, and KB homes built all of the homes in the community.
DRIVING CONTINUED VALUE ACCRETION
With Klein Arbor RDC wanted to demonstrate that there was an immediate demand for quality new home development at a higher price point in the MUD 180 market area. The successful completion of this development proved that demand, and offered a higher cost per square foot for both land development, and new home construction. Due to the depth of understanding of the potential of the market, RDC was able to continue the growth of its asset base in the area.
