What top master planned communities have in common
Texas is hot right now for master planned communities, according to MetroStudyReport.com which named the Top 20 Master Planned Communities for the quarter, nine of which are in Texas, although The Villages in Florida took the top spot.
As one of the geographically largest cities in the world, Houston claimed seven spots in the Top 20. The top communities are mostly developed by well known brands, are near major employers, offer open space and a variety of price points and usually offer “themed lifestyles.”
Top 20 master planned communities
In the chart above, the number of housing starts was dramatically higher at The Villages than anywhere else with 2,374 annual starts through the second quarter of 2011, accounting for nearly two in every five starts in the entire Central Florida market for the year. Likewise, Daybreak in Salt Lake City, Utah accounted for 28 percent of all area housing starts, Woodbury accounted for 19 percent of Orange County, California housing starts, and Alamo Ranch also accounted for 19 percent of San Antonio, Texas housing starts.
Housing starts are up for the top communities
Six of the communities listed were featured on the list for the first time, replacing Miami River Village, Heritage Bay, Castle Hills, Westheimer Lakes, Firethorne, and Lely Resort.
Half of the master planned communities on the list experienced more housing starts in the past 12 months compared to the 12 months prior, and four of the communities listed are under 15 percent away from completion. Newland Communities, The Irvine Company and Focus Property Group all had more than one master planned community in the current top 20 list. Not all areas are master planned community friendly, and they have specific requirements, but it is a promising sign for the real estate sector that housing starts are up in the top communities.