Alvarez Construction paid $2.9 million to purchase 48 lots for the second phase of Willows at Bayou Fountain, a gated subdivision off Burbank Drive near the Siegen Lane intersection, according to sales documents.
The homebuilder bought the lots from developer Charles “Windy” Gladney Jr., through his LLC Burbank Highlands. The company bought the first 34 lots in phase one of the development over the summer for $2 million.
The lots reportedly span 6,000 square feet, with 20 models of houses being offered, ranging in size from 1,800 to 2,300 square feet and starting at $290,000. Thirteen lots have already been pre-sold for the second phase of the development, according to Alvarez’s website, and another 16 have been pre-sold for a future phase.
A representative of Alvarez Construction and Gladney were unable to be reached before this afternoon’s deadline for more information.