$41.8 million loan clears path for 1,000-home project in Hockley

Plus: 'House of Ho' star sells Steve Francis' Houston mansion

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Johnson Development is planning a 318-acre master-planned community along Grandway Parkway (Highway 99) in Hockley, a small city in northwest Harris County.

Johnson Development launches new Hockley community

The fast-growing town of Hockley is getting another master-planned community.

Johnson Development Services has obtained financing to start a 1,000-home community along the Grand Parkway northwest of Houston. Sales are expected to in the second half of 2025 with Drees Homes, Perry Homes and Westin Homes as initial builders.

The newest community joins several developments that could collectively bring nearly 12,000 new homes to the market in the coming years. The $41.8 million deal represents the largest master-planned community loan yet for Houston-based First Continental, a private lender that has provided financing to Johnson Development Services on nine projects.

 

Katherine Feser, Real estate reporter katherine.feser@houstonchronicle.com

 

 

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Residential

Photo by: Houston Association Of Realtors 'House of Ho' star sells former Rockets' star Steve Francis' Houston mansion Steve Francis, a three-time NBA All Star who played for the Houston Rockets during Yao Ming's rein, sold his Memorial mansion with the help of a reality television star Washington Ho.

 

Photo by: Melissa Phillip, Staff Photographer Homeownership in Fort Bend, Montgomery counties outpacing that in Harris County The 2024 Harris County State of Housing report found the number of homeowners and their diversity are growing fastest in the suburbs. Many Houston neighborhoods face gentrification.

 

Photo by: Houston Association Of Realtors Houston's most expensive homes include wine cellars and infinity pools Luxury features of the homes included wine cellars, tennis courts, infinity edge pools, theater rooms and guest homes.

 

Photo by: Vero Sade Developer to build 310 apartments southwest of Houston The five-building project is expected to break ground later this summer as the market works through an oversupply that has led to falling rents and occupancies across the Houston region.

 

Photo by: Brett Coomer, Staff Photographer Major insurer pulls back on renewing some home insurance policies in Texas While Foremost is scaling back its presence in Texas, it is not pulling out of the state outright.

 

Photo by: AirLuxe Studios $41.8 million loan clears path for 1,000-home project in Hockley Hockley, a small city just north of Houston, is set to grow again as a prominent Houston developer launches a new 1,000-home, 318-acre master-planned community near the Grand Parkway.

 

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Commercial

Photo by: Raquel Natalicchio, Staff Photographer Former Woodlands Luby's transforms into newest Niko Niko's restaurant Popular Houston Greek-American restaurant Niko Niko's has soft opened its third location at a former Luby's in The Woodlands.

 

Photo by: Nordstrom Nordstrom Rack plans new Westchase store In addition to Westchase, Nordstrom is also on track to open two other Texas stores this fall including a location in Meyerland Plaza.

 

Photo by: Elizabeth Conley, Houston Chronicle / Staff Photographer Bionova clears another hurdle for new $56M Woodlands biotech facility California-based biotechnology company Bionova has cleared another hurdle in completing a new $56 million facility in The Woodlands as the township approved a tax abatement.

 

Photo by: City Of Richmond Richmond to replace 40-year-old city hall with former medical building Richmond will replace its nearly 40-year-old city hall and consolidate city departments now working in separate spaces into what was once a medical building.

 

Photo by: Brett Coomer, Staff Photographer Phat Eatery Woodlands builds on chef-owner Alex Au-Yeung's legacy The popular Malaysian restaurant officially opens in The Woodlands June 26, the sixth anniversary of its original Katy location.

 

Photo by: Brian Kennedy Opening of French-Euro bistro the Sylvie expands Ben Berg's footprint Restaurateur Ben Berg opens French-European bistro the Sylvie in downtown Houston in the Texas Tower.

 

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Real estate transactions

Photo by: Jason Fochtman, Houston Chronicle / Staff Photographer

The Woodlands to accept bids on 11-acre property near Town Center

The Woodlands is moving forward on plans to potentially sell the 11-acre former GE Betz building and property it initially purchased for $15 million in 2015. 

 

 

        

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