From the TAMU Real Estate center email from yesterday:
PEARLAND PLANNED COMMUNITY BRINGS BIG BUCKS
PEARLAND, Texas (khou.com) – Those who work in and around downtown Houston and do not desire to live there have another choice. Shadow Creek Ranch, a master-planned community, has been called Pearland’s best kept secret, but with soaring home sales, it’s not a secret anymore.
Because Shadow Creek is close to downtown amenities, Pearland’s mayor says that this sleepy city is finally taking off. The development is bordered by FM 2234, Smith Miller Road and Almeda School Road and is only a stone’s throw from Hwy. 288.
Since builders broke ground on Shadow Creek 18 months ago, the development has been second only to The Woodlands in total home sales. Real estate agents hope to close on 1,200 homes this year and approximately 1,900 next year.
When completed, the community will add more than 35,000 to the city’s population and bring in more than $1 billion in extra tax revenue.
Shadow Creek is approximately 15 minutes from downtown, the Galleria, the Medical Center or Reliant Stadium. Shadow Creek will soon finish a new elementary school and two new hospitals are planned. The University of Texas recently acquired land for a new campus.
Pearland officials believe that it may take ten years for the residential and retail properties to fully develop, but the city is already feeling the effects.