Residential & Commercial Development Strategy for the Sienna Plantation MPC

Fort Bend County, Texas

Project Type:

  • Market Analysis
  • Financial Analysis

Product Type

  • Detached Single-Family Homes
  • Office
  • Retail

Development Concepts

  • Master-Planned Community
  • Greenfield
  • Traditional Neighborhood Design

The Challenge

RCLCO was engaged by Toll Brothers to evaluate the remaining 3,700 acres of Siena Plantation, an established master-planned community in Fort Bend County, Texas, a suburb of Houston.  We were specifically tasked with evaluating their existing residential product program to determine whether the builder mix, lot sizes, home sizes and prices, and amenities package were appropriate for the marketplace given the competitive landscape as well as the market depth of 10 distinct buyer profiles, each segmented by age, income, number and age of children, and other factors.

Solution

Given the market depth of underserved buyer segments, as well as the relative dearth of products targeting them in the competitive market, RCLCO provided recommendations regarding additional neighborhood concepts, specific residential product types, and commercial development opportunities that could expand the development program and accelerate lot and land transactions. Ultimately, we optimized the product segmentation strategy, informed both by market and detailed financial analyses, to maximize absorption and development value.

Impact

As a result of RCLCO’s work and recommendations, Toll Brothers & GTIS have since introduced a number of new product lines to better serve under represented buyer segments, including Young Families and Empty Nesters, resulting in an increase in new home sales.

I have engaged RCLCO many times over the past 20 years. Each RCLCO assignment resulted in community lot sales pace and lot prices above my pro forma values. RCLCO is the gold standard for real estate consulting.

Jimmie Jenkins
Vice President, MPCs, Toll Brothers, Inc
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