“The first phase of the multi-phase transaction has closed, encompassing 206 acres and the development of 535 single-family finished lots, in addition to a community recreation area featuring a lazy river pool and a large outdoor shade pavilion,” IHP wrote. “The full transaction is structured across multiple phases, with closing scheduled approximately every 18 months.”
Site work has started with the first phase expected to complete in the second quarter of 2027.
“Peachtree represents the next generation of residential living in Greater Houston,” Chris Bley, co-president of IHP, said in the release. “As demand for quality housing accelerates, this dynamic community will offer homeowners long-term value and a vibrant lifestyle through a blend of attainably priced homes, top-tier schools, expansive open space, and modern amenities, all in a highly accessible location.”
Peachtree is located five miles east of the Highway 288 corridor and 28 miles south of downtown Houston, sitting within the Alvin Independent School District. The community is designed to meet the needs of first and second-time home buyers, with lots primarily in the 40, 50 and 60-foot width range.
Jeff Enes, partner at IHP Capital Partners, said numerous home builders have already expressed interest for Phase 1.IHP has partnered with Texas-based Scarborough Lane Development to construct the roughly 3,400 home lots.
Ryan Burkhart, managing partner at Scarborough Lane, said Peachtree is bound to become “a defining new community” for families in Greater Houston.
“We’re pleased to extend our partnership with IHP Capital Partners on this landmark residential development,” Burkhart said in the release. “Peachtree is a unique opportunity to deliver a large-scale, thoughtfully planned community that responds directly to the region’s growing need for attainably priced housing.”