i3 purchased approximately 70 acres of land in Cypress, Texas, a suburb of Houston. The property is situated between 3 master planned communities. Bordering the western boundary of the Property, Bridgeland, a development of Howard Hughes, will consist of 21,000 homes across an expanse of 11,400 acres with 3,000 acres designated for open space including 60 acres of trails, 900 acres of lakes and 400 acres of parks. To the east of the Property along Barker Cypress, Caldwell Companies has developed 2,450 acres into Towne Lake, which will contain 3,000 homes, 300 acres of commercial development, and a 300-acre lake with over 14 miles of shoreline and a 6 mile continuous boat road. Cypress Creek Lakes borders the eastern boundary of the Property and is developed by Mischer Investments over 1,600 acres with 2,100 single family homes, a $3MM Recreation Center complex and commercial/mixed-use development. Home values in these three communities range from $300,000 to $1,000,000. These 3 master planned communities combined total 15,450 acres and will have over 26,000 homes.
i3 is in the planning stages to develop a comprehensive mixed use development with plans to break ground in the first half of 2022