Riceland announces Phase II groundbreaking: Official grand opening event set for September 21
September 6, 2024
Houston-based developers, McGrath Real Estate Partners, marks another development milestone with the groundbreaking of Phase II of Riceland adding an additional 311 new home sites across an additional 138 acres and will include the Lakehouse Recreation Center and the development of Sweetgum Park.
To mark this milestone, Riceland will hold its official grand opening for the public on Saturday, Sept. 21 from 11 a.m. to 2 p.m. with food and fun for the whole family. Guests will tour nine model homes by Chesmar Homes, David Weekley Homes, Highland Homes and Perry Homes.
“Phase II represents a significant leap forward in our vision for Riceland,” Michael S. McGrath, president and CEO of McGrath Real Estate Partners, said. “We are not just building homes; we are crafting a community where families can live, work, and play in a vibrant, thriving environment. This phase brings us one step closer to realizing this vision and we are excited to celebrate that with the community of Mont Belvieu.”
Riceland, the 1,500-acre master-planned community in Mont Belvieu, is located along the Grand Parkway north of Interstate 10 and is one of the largest suburban mixed-use developments and master planned communities in the area. The development will include 4,500 homes upon completion of the long-term development plan and features 30 miles of trails catering to the outdoor lifestyle sought by locals. An extensive list of amenities includes a 10-acre stocked lake, resort-style pools and several parks, all seamlessly linked to the Town Center plaza.
The Riceland Town Center incorporates Mont Belvieu City Hall and the newly opened fire station and serves as the community city center of activity with a dedicated public green space area and new commercial developments planned, including the 16,956 square-foot Mill House blending curated retail, dining and office spaces.
Riceland is about community-centric living and keeping up with the pace of growth in the region. The population of Mont Belvieu has more than doubled in the past decade, with continued growth on the horizon.
“We’re eager to begin two exciting new amenities for the community and to continue collaborating with the City of Mont Belvieu on developing a city-wide path and trail system that will enhance walkability and continue to build on the community-focused lifestyle Riceland has to offer,” Randy Hopper, with McGrath Real Estate Partners, continued.
Trez Capital, a real estate investment firm based in Vancouver, Canada, provided $40 million in financing for Riceland Phase II. Trez Capital also provided the financing for phase one.“
We’re pleased to provide financing for the second phase of Riceland. As shown by the success of phase one, Riceland is attracting families at all stages of life due to its natural setting, heritage, extensive amenities and its location just outside of Houston,” John Sullivan, the managing director of US Originations at Trez Capital, said.
“The fact that Mont Belvieu has one turn access from the Grand Parkway/SH99 makes it easily accessible to multiple major employment hubs and a desirable place to live.”
Riceland Phase II quick facts:
• Phase II – currently under construction
• Phase I – 144 Acres, 417 home lots completed – 85 homes currently under construction
• Phase II – 138 acres; 311 homes lots
• Home builders: Chesmar Homes, David Weekley Homes, Highland Homes, Perry Homes
• Mill House – 16,956 SF of specialized retail, restaurant, and office space under development