Qualico Communities Austin Starts Lot Servicing in Next Phase of Manor Commons
Manor, TX – Qualico Communities Austin is now servicing lots in Phases 2, 4 and 5 of its Manor Commons development n Manor, Texas, east of the city of Austin.
Manor is a mature community that has seen development and growth over the past 18 years, and offers many amenities and services, as well as desirable home pricing.
The Manor Commons development involves a new ownership structure for Qualico Communities Austin, with the business unit partnering with Chesmar Homes to split the lots 50/50, and Qualico acting as development manager.
“We essentially have a joint development agreement between Qualico and Chesmar Homes,” explained Vera Massaro, ice-President, Qualico Communities Austin, “where we’ve partnered with Chesmar on the entire project – the purchase of the land and all of the development costs are a shared responsibility, and we each have 50 per cent ownership of the land.”
Phases 2 to 5 of the development include 276 single-family lots, 145 of which are 45 ft. wide and 131 that are standard 50-ft. lots. Phase 2 has 60 lots under development right now, which Vera said should be delivered in Q2 of this year, while the 145 lots in Phases 4 and 5 are scheduled to be delivered in Q3 of this year.
Phase 3’s lots will commence in Q3 of 2022, with serviced lot delivery expected in Q1 of 2023, and by Q1 of 2024, Vera expects that all 276 lots will be fully developed.
Phase 1 of Manor Commons had already been completed by the previous owner/developer before Qualico Communities Austin and Chesmar Homes purchased the land. Pacesetter Homes Austin built homes in that first phase, as well as played a role in the purchase and partnership involved in Phases 2 to 5.
“Pacesetter Homes Austin has enjoyed a successful building operation in Manor, Texas since its first closing in Bell Farms in 2010,” said Dennis Ciani, Marketing Director, Pacesetter Homes. “With over 50 sales a year in this submarket, Manor has proven to be a location Pacesetter Homes Austin is looking to stay in.”
After completing homes in Phase 1, Pacesetter Homes Austin learned that the original developer of Manor Commons was looking to sell Pacesetter Homes Austin the remaining sections as one package (rather than section by section) due to Austin’s increasing land and home prices.
While this wasn’t something Pacesetter Homes Austin was able to do, Qualico Communities Austin stepped in to purchase the remaining sections as one closing, avoiding the risk of losing the rest of Manor Commons to a larger national homebuilder.
“We approached the developer at the right time, before prices started skyrocketing,” said Vera. “We got the property at a very reasonable price and, more importantly, the project was entitled – zoning was in place and construction plans for the sections currently under development were engineered and approved.”
Pacesetter Homes and Qualico Communities Austin had already-established relationships with Chesmar Homes prior to Qualico Communities Austin’s purchase of Manor Commons, and Qualico Communities Austin was able to leverage those relationships to create the current partnership.
The addition of Qualico Communities to the Austin area will have a lasting impact on Pacesetter Homes Austin beyond the Manor Commons development, according to Dennis.
“Over the coming years, Qualico Communities will help Pacesetter Homes Austin in developing reciprocal relationships with multiple homebuilders and vice versa,” he said. “These relationships create the ability for Pacesetter Homes Austin to offer developed lots to other builders and to purchase lots from builders in submarkets where lots are limited.”
Manor Commons is a great example of the work Qualico Communities Austin is doing to expand Qualico’s reach in the Austin area and beyond and create ongoing opportunities for Qualico homebuilders.
“This project helps with Pacesetter’s building program and inventory and is of value to Qualico Communities, Pacesetter Homes Austin and, ultimately, Qualico,” Vera said. “It’s a win-win for everyone involved.”
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