Massey Oaks Development, an affiliate of the real estate development company Commercial Partners of Nevada, is in the process of developing the first phase of new homes at Massey Oaks, a 356-acre master-planned community in the Houston area in Pearland, Texas.
The community is named after the family of Israel Massey, one of Texas’ “Old 300” settlers, who had kept the land as a ranch.
“We have been working on making our vision of Massey Oaks a reality for nearly three years, working hard to maintain the legacy of the Massey family and the preservation of the land and countless trees that define the property while revitalizing the area,” said Ron Cobb, manager of Massey Oaks Development, in a statement.
Trez Capital, a real estate investment firm headquartered in Vancouver, provided a $44 million loan to develop the first phase of 372 single-family lots in a deal that closed in late July. The lots from that phase are expected to be finished in the first quarter of 2022, at which point home builders including CastleRock and Meritage Homes plan to build homes starting as low as $250,000.
