Real Estate Developer Pushes Forward in Katy Despite Economy

PRESS RELEASE
Thursday, May 21, 2009

New Home Construction Revived in Morton Ranch

(Houston) A local consortium of developers, builders and suppliers is re-awakening new home construction in Katy’s popular Morton Ranch Section-3 this Summer with a series of houses designed to offer custom features, heightened efficiencies, and enhanced equity.

Wallace Bajjali Development Partners, U-Build-It, and suppliers of the latest technologies in construction, are breaking ground to create a new-generation of homes that will be more affordable to operate and maintain, thus completing the build-out of Morton Ranch.

This newest phase of construction will also be a ground-breaking endeavor on another level: Morton Ranch will be the location of the first project utilizing the U-Built-It methodology in an entire neighborhood of homes. U-Build-It is a nationally-recognized organization which allows individual home owners to be more engaged in the building process, resulting in higher quality control, a better loan-to-value ratio for lenders, and greater pride in ownership.

Morton Ranch construction will be overseen by a partnership between U-Build-It and Wallace-Bajjali Development Partners, a Houston-based real estate development corporation, who’s principals have been engaged in the planning of Sugar Land’s beautiful Towne Square, the metamorphosis of downtown Waco, Texas and over fifteen other active developments in and around the state of Texas.

The principal of U-Built-It is an experienced custom-home builder. The partnership will maximize the unique opportunity to complete the remaining empty lots in Morton Ranch by also offering green-options for heightened operating efficiency, as well as solid financial guidance and support to see the project through to completion.

Homes will be priced between $180-K and $300-K, with floor plans between 1,800-sf and 3,000-sf. Some of the same designs offered by the original builder (Royce Homes) will be used, and in some cases upgraded, so that the appearance of the neighborhood will be consistent, or even enhanced.

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