1,600 acres to be developed on Houston's far northwest outskirts

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Prominent community planner Johnson Development Corp. has purchased 1,619 acres in northwest Harris County near the Grand Parkway, according to an announcement from the seller, Rockspring Capital.

The property is off U.S. 290 and Katy Hockley Road. There are no immediate plans to develop the site, according to Rockspring's announcement. Johnson Development officials could not be reached Thursday morning.

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The purchase price was undisclosed, but an earlier article from the Houston Business Journal noted the that land was listed at nearly $43.5 million.

Rockspring, a local real estate investment firm, said the property is unique in that "it has a very high potential yield with little to no mapped flood plain and nor is it significantly impacted by environmental challenges like some other properties in the market."

Johnson Development was represented in the acquisition by Dave Ramsey with NewQuest Properties. Rockspring was represented by Chris Hutcheson, Matthew Herring and James Kadlick of McAlister Real Estate.