A 10.62-acre purchase marks Houston-based Luton | Underwood Development Partners’ first development project since it was formed last year by real estate developers Nick Luton and Carson Underwood. The majority of the acreage located at 11514 Trickey Rd. in Houston will be developed as a single-family community.

The new ownership plans to develop a 44-home single-family for-rent community on 10 acres with completion anticipated for the fourth quarter of 2021. The remaining .62 acres, which has an existing commercial building with 4,800 square feet of warehouse space, 1,218 square feet of mezzanine space and 1,554 square feet of office space, is now being marketed for sale.

Avison Young Tommy LeBlanc and John-Michael Kamel represented the land seller, Alpha Neutronics. Avison Young also sourced the buyer. LeBlanc and Kamel are leading marketing efforts on the remaining acreage.

“As the Houston market continues to experience population growth, Luton Underwood has recognized the demand for single-family for-rent communities,” said LeBlanc. “We anticipate that over the next few years, developers will be seeking well-located development sites for this product sector.”