IHP Capital closes first phase of 1,458-acre Texas residential community

IHP Capital Partners has closed the first 206 acres of a 1,458-acre land purchase in Brazoria County, Texas, the opening phase of a master-planned community called Peachtree it is developing with Scarborough Lane Development near Alvin and Liverpool. The initial closing covers 535 single-family finished lots and a recreation area with a lazy river pool and a large outdoor shade pavilion, IREI reported.

The remaining acreage closes in stages, with transactions scheduled roughly every 18 months, and the partners expect about 3,400 finished residential lots at full buildout; Peachtree also includes retail use, land allocated for the potential use of two future elementary schools, and parks, open space and tree-preservation areas.

After the first phase, 1,252 acres remain, and at the same 206-acre clip the schedule implies about six more closings and a final one somewhere near nine years out — an inference from the stated cadence rather than a disclosed timetable, but a fair measure of how long the capital stays committed. The per-acre math runs the other direction: phase one yields about 2.6 lots per acre, while 3,400 lots across 1,458 gross acres works out to roughly 2.3, so the later phases have to absorb proportionally more of the non-residential acreage, or run at lower residential density, than the opening parcel does.

The first closing is the land-stage version of a trade this publication has argued now defines the development bid: with existing product priced high, managers buy raw acreage and fund entitlement and infrastructure rather than paying for someone else's finished lots. The partners fund 535 lots today and leave the rest contingent on a schedule that will be repriced by Houston housing demand five and ten years out; absorption and lot pricing across that window are the underwriting questions that matter, and the initial disclosure does not include the purchase price, lot pricing or projected revenue.

Chris Bley, IHP's co-president, said the community will offer homeowners "long-term value and a vibrant lifestyle" through "attainably priced homes, top-tier schools, expansive open spaces and modern amenities," and said the firm is "proud to again partner with Scarborough Lane." The repeat pairing predates this project, though the reporting does not describe the earlier work. The next date to watch is the second closing, roughly 18 months from now.