Riceland, a new 1,500-acre master-planned community located in Chambers County just outside of Houston, will break ground this month. Trez Capital provided financing in the amount of $25 million to family-owned developer Michael S. McGrath of McGrath Real Estate Partners, for phase one of this master plan community. The Riceland development plans to deliver 4,500 homes upon completion.
“We’re pleased to provide financing for Riceland, a new master-planned destination that will attract families of all stages of life due to its natural setting, heritage, extensive amenities and its location just outside Houston,” said Trez Capital Vice President John Sullivan. “The fact that Mont Belvieu is only 35 minutes away from Downtown Houston and is along the recently opened Grand Parkway/SH99 eastern sections makes it easily accessible to the northern Houston metro area and a desirable place to live. Houston has grown exponentially the last couple of years. Over the past 12 months, the city has added 118,000 jobs and is one of the strongest markets in the U.S. for new housing and job growth.”
Mont Belvieu is in one of the fastest growing counties in the state. It features small-town living, a family-centric community and the city is surrounded by nature. The city is host to Barbers Hills Independent School District (ISD) which has an A rating from the Texas Education Agency and received a score of eight from GreatSchools. McGrath Real Estate Partners is working closely with the city of Mont Belvieu to ensure that the development complements and enhances the small-town feel that residents already enjoy.
Riceland will feature resort-style pools, a fully stocked 10-acre lake with fish camp, and multiple parks along with 30 miles of hiking and biking trails. Designed as a highly walkable neighborhood, Riceland will integrate seamlessly into the existing Mont Belvieu community. The centerpiece of the community is a town center that will also act as a downtown for Mont Belvieu.
Riceland draws on the history of the land and is built on land grants made in the early 1800s. The land has been lived on by the same family for almost two centuries. The family’s ancestors received two land grants from Mexican President Antonio Lopez de Santa Anna in 1830 when Texas was still a part of Mexico.
