LANDSEA HOMES ADDING MORE HOMES IN KYLE, TEXAS WITH NEW COMMUNITY, PARKTON SQUARE

Rhea-AI Summary

Landsea Homes (Nasdaq: LSEA) is expanding its presence in Kyle, Texas with a new community called Parkton Square. The development will feature 210 new high-performance homes, including single-family homes and attached townhomes. Located less than two miles from another Landsea Homes community, Freedom at Anthem, Parkton Square offers a convenient alternative to living in Austin.

The single-family homes will range from 1,400 to 2,900 square feet with 3-5 bedrooms, while townhomes will be 1,492 to 1,590 square feet with 3 bedrooms. All homes will be equipped with Landsea Homes' High Performance Home features, including smart home automation technology and the REME HALO® air purifier. Construction on three model homes will begin in early 2025, with sales expected to start around the same time.

Kyle, known as the "Pie Capital of Texas," is one of the fastest-growing affordable suburbs in the country, with a 23.7% growth rate since 2020. The community will offer easy access to parks, downtown Kyle, and higher education opportunities.

Positive

• Expansion into a fast-growing market with 210 new homes
• Diverse housing options with single-family homes and townhomes
• High-performance homes featuring smart home technology and air purification systems
• Strategic location in Kyle, one of the fastest-growing affordable suburbs near Austin
• Proximity to parks, downtown, and educational institutions

Negative

• Potential market saturation with another nearby Landsea Homes community
• Delayed revenue generation with sales not starting until early 2025
• Possible impact on profit margins due to inclusion of high-end features in all homes

Insights

Real Estate Analyst

Landsea Homes' expansion into Kyle, Texas with the Parkton Square development is a strategic move that capitalizes on the region's rapid growth and demand for affordable housing options near Austin. The project's 210 new homes, including both single-family and townhomes, addresses diverse buyer needs and price points.

Key positives include:

• Location in one of the fastest-growing counties in the U.S.
• Proximity to Austin, offering a more affordable alternative
• High-performance home features and smart technology integration
• Variety of home sizes (1,400 to 2,900 sq ft) catering to different demographics

The timing aligns with the trend of suburbanization, as buyers seek more space and value outside major city centers. However, the success will depend on pricing (yet to be announced) and the continued appeal of suburban living post-pandemic. The project's impact on Landsea's financials won't be immediate, with sales expected to begin in early 2025, but it positions the company for future growth in a promising market.

Urban Planning Expert

The Parkton Square development in Kyle exemplifies smart growth principles and suburban placemaking. Its location near downtown Kyle, parks and schools promotes walkability and community integration. The mix of housing types (single-family and townhomes) supports diversity and affordability, important for sustainable suburban development.

Notable urban planning aspects include:

• Integration with existing community assets (parks, schools, downtown)
• Provision of green spaces within the development
• Alignment with regional growth patterns along the I-35 corridor
• Proximity to higher education institutions, supporting long-term community viability

This development model could serve as a template for other fast-growing suburbs seeking to manage expansion while maintaining quality of life. However, careful monitoring of infrastructure capacity, particularly transportation systems, will be important as Kyle continues to grow rapidly. The success of Parkton Square could influence future suburban development patterns in the Austin metro area and beyond.

-          210 New High Performance Homes Coming to Desirable Master Planned Community Close to Downtown Austin

-          Single-Family Homes and Attached Townhomes

-          Community Located at the Gateway of Texas Hill Country

KYLE, Texas, Oct. 15, 2024 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, is bringing 210 new homes to a brand new community, Parkton Square, in Kyle, Texas.

"Kyle is one of the fastest growing cities in the country, and we are pleased to provide more opportunities for homebuyers to live in their element at Parkton Square," said Jill Wasik, Director of Sales and Marketing, Landsea Homes, Austin. "This beautiful new master planned community is less than two miles from another Landsea Homes community, Freedom at Anthem, where new homebuyer interest has been incredibly strong. Kyle provides a convenient housing alternative to living in Austin, as well as a great quality of life, ample parks and open space, and good school system with higher education opportunities."

Wasik added, "We have formally closed on the land, the community's infrastructure is substantially complete, and construction on three new model homes will begin in early 2025."

Parkton Square will offer 210 single-family homes and attached townhomes. The single-family homes will range from 1,400 to 2,900 square feet with floorplans offering three to five bedrooms and options for the primary bedroom on the first floor, dramatic vaulted ceilings, gourmet kitchens and luxury showers. The attached townhomes will range from 1,492 to 1,590 square feet with three bedrooms and two-and-a-half bathrooms. Homes are expected to begin selling in early 2025. Pricing will be announced at a later date.

Residents will be able to enjoy various green space throughout the community and Gregg-Clarke Park just across the street. A short bike ride away is downtown Kyle to enjoy Mary Kyle Hartson park and everything historic downtown Kyle has to offer. Labeled the "Pie Capital of Texas", Kyle has been home to the popular Texas Pie Company since 1986. Every Labor Day weekend locals and visitors attend the "Pie in the Sky Hot Air Balloon Festival" and enjoy pie-eating contests, pie-baking competitions and live music. 

Kyle is conveniently located along the I-35 corridor, between two of Texas' top-performing cities, Austin and San Antonio. Higher education opportunities are close by with the University of Texas at Austin and Texas State University, as well as Austin Community College-Hays Campus. Residents are also within walking distance to Wallace Middle School.

All homes at Parkton Square will be equipped with Landsea Homes' High Performance Home features, including smart home automation technology utilized by the Apple HomeKit™ environment. The smart home automation features include an Apple® HomePod mini™, wireless network Internet throughout the home, entry door locks, thermostat control, garage door opener control, light dimmer switches, doorbell camera pre-wire, and smart home activation via Best Buy's Geek Squad. The homes will also contain the REME HALO® air purifier, a state-of-the-art product that mitigates indoor contaminants to keep residents safe and support healthy living.

Although Austin is one of the fastest-growing metro areas in the nation, new homebuyers are more interested in relocating to the surrounding suburbs. Parkton Square is located in Hays County, one of the fastest growing counties in the country, according to U.S. Census data. Kyle has attracted new residents by providing an affordable and convenient housing alternative to living in Austin. According to the moving experts at MoveBuddha, Kyle is one of the top three fastest-growing affordable suburbs in the country, with a 23.7 percent growth rate since 2020.

For more information about homes selling in Texas, visit: https://landseahomes.com/austin/ 

*Pricing is accurate at time of publication but is subject to change. 

About Landsea Homes Corporation

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas and throughout California in Silicon Valley, Los Angeles, and Orange County. Landsea Homes was honored as the Green Home Builder 2023 Builder of the Year, after being named the 2022 winner of the prestigious Builder of the Year award, presented by BUILDER magazine, in recognition of a historical year of transformation. 

An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to "Live in Your Element." Our homes allow people to live where they want to live, how they want to live – in a home created especially for them. 

Driven by a pioneering commitment to sustainability, Landsea Homes' High Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet. 

Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees, and stakeholders by creating an unparalleled lifestyle experience that is unmatched. 

For more information on Landsea Homes, visit: www.landseahomes.com. 

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SOURCE Landsea Homes

FAQ

How many homes will Landsea Homes (LSEA) build in Parkton Square, Kyle, Texas?

Landsea Homes will build 210 new high-performance homes in Parkton Square, Kyle, Texas, including both single-family homes and attached townhomes.

When will Landsea Homes (LSEA) begin selling homes in Parkton Square?

Landsea Homes expects to begin selling homes in Parkton Square in early 2025.

What is the size range of the homes in Parkton Square by Landsea Homes (LSEA)?

Single-family homes in Parkton Square will range from 1,400 to 2,900 square feet, while attached townhomes will range from 1,492 to 1,590 square feet.

What smart home features will be included in Landsea Homes' (LSEA) Parkton Square properties?

Homes in Parkton Square will include smart home automation technology with Apple HomeKit, wireless internet, smart locks, thermostat control, garage door control, light dimmers, and doorbell camera pre-wire.

How has Kyle, Texas, where Landsea Homes (LSEA) is building Parkton Square, grown recently?

Kyle, Texas has experienced significant growth, with a 23.7% growth rate since 2020, making it one of the top three fastest-growing affordable suburbs in the country.