Waldenwood Estates - Real Estate Development - 1990-1996


Let's Roll !

 

 


Waldenwood Subdivision - 1 to 15 acre Estates

A 126 acre heavily wooded, restricted, low density, Estate Development in N.W. Houston. Lots are 1-15 acres. Homes from $200,000+. Located 8 miles from Interstate 45 on FM 2920. The City of Tomball is just 3 miles west. Hooks Airport is located just 1 mile south. Waldenwood is located in Harris County and the Klein Independent School District. At the back of the subdivision is Tomball Country Club, a 9 hole member owned country club.

Waldenwood Street Sign

My girlfriend and I purchased a 17-acre tract in the center of the development and began constructing a 7,000sf home (Lots B-16,22,23 & 25 shown below).  Being a significant investment, I approached Charlie Hooks, the developer of the subdivision, to buy the remainder of the subdivision so I could take advantage of the appreciation on other lots that our investment would be creating.   He agreed to sell me the development with no downpayment, owner financed for 5 years at 10% interest due quarterly with principal reductions as I sold the lots.   The note was for $172,000 and my lot sales cash flowed sufficiently to cover the debt service and pay the note off as scheduled.

Waldenwood Plat

As the developer, I formed the Waldenwood Property Owner's Association, was elected its President and served for 5-years until I moved out of the subdivision.  I personally built new street signs (shown above) and added entry features, improved the drainage throughout the development, conveyed all of the roads to Harris County and got them to upgrade the streets to county standards.   In 1994 I purchased the 8-acres of commercial reserve in front of the subdivision from the RTC and over the next few years sold a portion of it for a self-storage facility and the remainder to a church, which I financed over 10 years.

 

 

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Last updated May 11, 2012