A massive master-planned development in Boerne will soon see the addition of more than 500 homes targeted at empty nesters and retirees.
Toll Brothers Inc. (NYSE: TOL) will begin construction of single-family homes next summer in a new gated community, named Regency at Esperanza, with lot development kicking off within the next month. Sales are scheduled to begin in fall 2022, with homes starting in the $300,000s designed specifically for people 55 and older.
“We are excited to bring our luxury home designs to the incredible Esperanza master-planned community in Boerne,” said Brandon Cooper, division president of Toll Brothers, in a prepared statement. “We look forward to building each home with the outstanding quality and craftsmanship for which Toll Brothers is known.”
The 200-acre Regency at Esperanza will include amenities such as an amenity center, resort-style swimming pool, fitness studio, gym and open-air pavilion.
The community is part of the 1,240-acre Esperanza development at 601 Esperanza Blvd. from The Lookout Group Inc., based in Leander. Overall, the master-planned community has more than 300 homes, an 11-acre private club for residents and a 24-hour fitness center. It will see more than 2,400 homes built by its completion, along with 350 acres of open space and 15 miles of trails.
Mike Siefert, president of The Lookout Group, previously worked for Toll Brothers. He said the addition of the builder will bring a new type of product to Boerne for a population being drawn to the city and Central Texas in general.
“Since we opened Esperanza, we have seen tremendous relocation demand from across the country looking for active adult living,” Siefert said. “We interviewed and researched several active adult builder partners, and Toll Brothers was by far the best fit. Toll Brothers has a luxury active adult brand that is sought after and proven nationwide.”
The Lookout Group’s other projects include the 3,000-acre Crystal Falls in Leander; Clearwater Ranch, an estate community in Liberty Hill with more than 600 acres; and the 1,140-acre George’s Ranch, the company’s second development in Boerne revealed in March.
Toll Brothers was founded in 1967 and operates in 24 states, with active-adult communities in 10 states. It has been building homes in Texas for more than 25 years. As of March 9, it had a market capitalization of more than $6.7 billion.
Regency at Esperanza follows Toll Brothers’ announcement in March of Santa Rita Ranch, a 3,100-acre master-planned community north of Austin with more than 1,000 homes.
