The gates of a ranch that has remained in the same family for nearly 80 years are preparing to welcome a new chapter after a nearly 400-acre property north of Montgomery County was sold to a developer planning a large-lot residential community.
According to a news release from brokerage firm Marcus & Millichap, the 397-acre property in New Waverly has been sold to Stoecker/Wilgers Investments. The tract spans along Jones Road, which becomes FM 1375. The site is approximately four miles west of Interstate 45 and near several existing and planned residential developments.
David Romano, one of the investment specialists who marketed the property, described the area as one that continues attracting buyers seeking larger residential lots.
“This area north of Montgomery County continues to see strong interest from buyers seeking large-lot residential opportunities within commuting distance of The Woodlands, Conroe and North Houston,” Romano said. “The Interstate 45 corridor provides significant potential for future residential and commercial growth.”
While the sale price was not disclosed, the buyer said plans call for transforming the land into Waverly Hills Ranch, a large-lot residential community with homesites ranging from 2.5 to 48 acres.
“Walker County is a great place to live and raise a family, but development regulations can make projects difficult to structure,” the buyer said. “With the help of David Romano and the sellers, we were able to create a plan that preserves the rural character of the property while making the development viable. I plan to keep and build on the back 50 acres myself.”
Chron has reached out to Marcus & Millichap for additional details on the sale-price, but has not yet received a response.
Because the property remained in the Murdock/Fleming family for nearly 80 years, the buyer said he plans to honor the ranch’s history by constructing memorials recognizing Dr. Lloyd H. Murdock and Col. J. Lynn Fleming within the neighborhood’s recreational space.