A Houston developer and partner bought two large tracts of land outside Magnolia to launch new communities near a giant solar farm.
MAGNOLIA, Texas — Two new communities are planned in a booming area outside of Magnolia.
Houston-based Ersa Grae Corp., in partnership with Florida-based Avanti Properties Group, recently purchased two roughly 300-acre tracts on either side of a giant solar farm between FM 1488 and Riley Road, west of Magnolia and Highway 249, and south of Todd Mission, Ersa Grae Principal Reza Ebrahimi told the Houston Business Journal.
The company acquired the tract along the southern edge of Riley Road in summer 2024 from DDSMK LLC, which also owns more than 1,000 acres of solar farm land just south of it, according to the Waller Central Appraisal District.
Ersa Grae acquired the other tract, along the northern edge of FM 1488, from Rice University just this month.
“We started to see some real opportunity here in Magnolia,” Ebrahim said. “So we found these two opportunities and made the acquisition, and we’re getting started.”
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