Neighbor for Woodlands
By Nancy Sarnoff

HOUSTON CHRONICLE
Published May 5, 2007

A Dallas-based land developer has bought about 315 acres in Montgomery County just west of The Woodlands to build a master-planned community that could have up to 550 homes when it's completed.

WY Atlantis acquired the property for an undisclosed amount in an assemblage from three different owners. It has named the project Autumnwood.

Located west of FM 2978 near Hardin Store Road, the heavily wooded site will be preserved by building out large home sites of up to two-thirds of an acre, the developers say.

Home prices are estimated to be between $200,000 and $400,000. A creek runs through the property leading to a 50-acre lake.

"We want to keep the characteristics of the property intact," said Allen Jones, co-owner of WY Atlantis.

Developers have been acquiring land for residential projects in this area because of its proximity to The Woodlands, a popular master-planned community with a range of housing types and a dense section of shops, offices, parks and cultural venues.

The Avex Group, also of Dallas, recently bought 5,700 acres northwest of The Woodlands for a project called Woodard Ranch, and Johnson Development Corp. added more than 2,500 acres to its project pipeline for a development called Woodforest just north of The Woodlands.

Autumnwood is in the Magnolia and Tomball school districts.

The developer is creating a municipal utility district for the property and will start marketing lots to home builders in the next couple of months.

Lots could be delivered by the fourth quarter of 2008 and the project built out in about five years.

Kirk Laguarta of Texas Land Advisors represented WY Atlantis in the land acquisition.   

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