17 July 2016

Sneak Peek: Developer debuts custom luxe home tour in Cypress amid oil slump

Original Story: bizjournals.com

Caldwell Cos. opened its first gated custom home section in the Towne Lake master-planned community back in 2012 — when oil prices were high and Houston’s luxury home market was booming. Custom home builder Tampa

The Houston developer typically sells about 15 to 20 homes a year in Water’s Edge at Towne Lake. The exclusive Cypress neighborhood boasts mansions costing between $750,000 to $2 million on half-acre or larger waterfront lots with private boat docks.

When oil prices plunged a year ago, Houston’s luxury home market started to cool. Water’s Edge is on track to sell about 14 homes this year, slightly less than during the boom years.

Caldwell Communities has turned to a tried-and-true method to boost sales of million-dollar homes in Towne Lake. The developer is launching its first custom home showcase in Water’s Edge. Click through the slideshow to take a tour of the homes.

Five of the seven custom homebuilders who are building in Water’s Edge at Towne Lake will participate in the inaugural custom home showcase, which begins this weekend. Bavaria Builders, Braziel Building Group, Brickland Homes, Drees Custom Homes and Frontier Custom Builders are expected to welcome hundreds of prospective homebuyers and curious viewers into their speculative inventory homes between July 16 to 24.

Home tours are often used to lure homebuyers to consider purchasing a new home, but can also show off new trends in custom homebuilding. The five custom homebuilders in the Towne Lake showcase tour will feature their plush bathrooms and master closets, massive kitchens with double islands, unique architectural features like domes and barrel ceilings and high-end amenities like smart home systems.

“Custom homebuilders don’t have finished model homes like this,” said Jennifer Symons, vice president of marketing at Caldwell Cos. “This is a great opportunity for them to show off what they can do.”

Towne Lake is a 2,400-acre master-planned community boasting a 300-acre man-made lake in Cypress, northwest of Houston. Residents of Towne Lake can boat, fish and water-ski on one of the largest man-made lakes in Texas. Homes range in price from the $200,000s to more than $1 million.

Developer Caldwell Cos. has opened several new amenities within Towne Lake, including a new Kroger grocery store, sandy beach and waterpark and The Boardwalk at Towne Lake mixed-use development, which has attracted several new retailers and restaurants to Cypress. Residents can ride their motorboats to work, eat and play at The Boardwalk.

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