SouthStar Communities Reports Increased Sales
Residential Real Estate Developer Expects Continued Uptick in Sales Trends for
DALLAS, Feb. 12, 2013
DALLAS, Feb. 12, 2013 /PRNewswire/ --SouthStar Communities, a residential
real estate development company with master-planned properties throughout
Texas, North Carolina, Georgia and Florida, reported solid growth in 2012 and
expects to continue the trend in 2013.
In May of 2012, SouthStar Communities acquired Bluegreen Communities, a
division of Bluegreen Corporation, for $29 million. The acquisition resulted
in several additions to SouthStar's portfolio of community developments,
including Vintage Oaks and Havenwood in New Braunfels, Texas; King Oaks near
College Station, Texas; Lake Ridge and Sugar Tree in Dallas-Fort Worth, Texas;
Sanctuary Cove at St. Andrews Sound, Georgia; and Chapel Ridge near Chapel
Hill, North Carolina.
"This year's housing market is promising," said Thad Rutherford, senior vice
president of SouthStar Communities. "Sales and activity picked up in 2012 and
we believe they will continue across the board in each of our communities."
According to Metrostudy, each of the four states in which SouthStar has
communities, including Texas, Florida, Georgia and North Carolina, rank in the
top ten states for job growth and single-family home building permits, with
Texas leading both of those charts.
In 2012, the company reported more than $10 million in real estate sales in
the eight months following its May acquisition. There was an increase in sales
across all projects, with the College Station and New Braunfels developments
experiencing particular growth in sales.
Metrostudy also reported that, in the fourth quarter of last year, New
Braunfels housing starts were up by 34 percent, when compared to the fourth
quarter of 2011.
Throughout the year, SouthStar Communities initiated community infrastructure
and added amenities as part of an overall plan to increase the lifestyle
choices and attract new buyers. Specific amenities included construction of
two tennis courts and a soccer field in the Vintage Oaks community in New
Braunfels, Texas, as well as a walking trail in the King Oaks community near
College Station, Texas.
The New Braunfels and College Station communities experienced particular
growth as a result of the new amenities, with King Oaks reporting a 15-percent
increase in sales in the second half of the year, compared to the same time
period in 2011. In December of 2012, the National Association of Home Builders
(NAHB) reported a surge in the number of metropolitan areas included on their
Improving Markets Index (IMI) with 84 markets added to the list, which
included College Station, Texas.
A similar surge was also reported by the NAHB in January, when it was
announced in a press release that 242 out of 361 metropolitan areas nationwide
appeared on the Improving Markets Index. The release also stated that this is
the fifth consecutive month the IMI has experienced growth.
SouthStar Communities has formed partnerships to sell lots to home builders in
several of its communities, including Havenwood at Hunters Crossing in New
Braunfels and Chapel Ridge near Chapel Hill, North Carolina. In October, plans
were finalized with award-winning custom home builder Scott Felder Homes,
which purchased 37 lots in Havenwood at Hunters Crossing and is currently in
the process of building a model home within the community.
"We've built homes throughout Central Texas and felt it was a logical
progression to add options for our customers in the New Braunfels area," said
Scott Felder, owner and founder of Scott Felder Homes, in a press release
announcing the purchase. "Joining Havenwood at Hunters Crossing was appealing
because the community is well-established and includes impressive amenities."
Standard and Poor's rating service reported in December that they expect a 5
percent increase in national home prices in 2013.
"As a result of the experienced and expected growth, we plan to develop an
additional 200 lots throughout our communities," Rutherford added. "SouthStar
Communities will continue its focus on achieving excellence in building
communities that offer unmatched amenities and a great lifestyle for our
residents and property owners."
For more information on SouthStar Communities, visit
About SouthStar Communities
SouthStar Communities is a residential real estate development company based
in Dallas, Texas, with master-planned properties throughout the South. The
company is affiliated with SouthStar Development Partners, and led by CEO J.
Larry Rutherford, who has worked in all areas of the real estate industry for
nearly four decades. Since 1999, SouthStar has developed 20 communities
throughout Florida, Texas, Georgia, North Carolina and South Carolina. The
firm's primary activities include the analysis, financing, acquisition,
planning and marketing of real estate for both residential and commercial
uses. For more information, visit www.southstarcommunities.com.
About King Oaks
King Oaks is Bryan-College Station's premier master-planned community offering
the very essence of a peaceful wooded lifestyle combined with college town
excitement. The community has premium 1-3 acre land for sale. Buyers can
select heavily wooded, scenic pond side, and tranquil greenbelt home sites.
Residents can escape to a wooded sanctuary hidden among a majestic forest of
beautiful hardwoods. The unique character and charm of each home site is a
gracious complement to the stunning custom homes. Boasting a multitude of
elevations and natural amenities, King Oaks is the ideal community for those
looking for a natural and luxurious lifestyle. For more information on King
Oaks, visit www.kingoaks.com. Connect with us on Facebook at
About Vintage Oaks at the Vineyard
Vintage Oaks at the Vineyard, a master-planned community located in New
Braunfels, Texas, is nestled in the heart of the Texas Hill Country. Developed
in 2006, the community is filled with majestic oak trees and panoramic hill
country views can be seen from its 1-5 acre home sites. The development also
has a wide variety of premiere amenities including a 1,500-square-foot
clubhouse with a pavilion and catering kitchen, lap and lounge pool, ideal for
relaxation or exercise and a Lazy River for families to enjoy time with the
kids. The community has plans for an array of sports park facilities. Located
on the Texas Hill Country Wine Trail, more than 24 vineyards are situated
nearby. For more information on Vintage Oaks at the Vineyard, visit
www.vintageoakstexas.com. Connect with us on Facebook at
About Lake Ridge at Joe Pool Lake
Lake Ridge at Joe Pool Lake, a breathtaking master-planned community, offers
an unparalleled combination of lakeside living and a prestigious golf course
lifestyle. Its premier location makes it one of the Dallas-Fort Worth
Metroplex's most desirable acreage communities, offering all of the
conveniences of a large urban city while retaining the privacy and country
feel that you expect from your personal retreat. Select from a wide array of
hilltop and heavily wooded acreage home sites surrounded by dramatic views,
magnificent hardwoods, and rolling hills. For more information on Lake Ridge,
visit www.lakeridge.net. Connect with us on Facebook at
SOURCE SouthStar Communities
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