Houston Business Journal
August 17, 2017
A Chinese developer has broken ground on its first U.S. development, a new master-planned community rising northeast of Houston.
Yihai Group — a longtime residential developer based in Dalian, Houston’s sister city in northeastern China — has begun site work on Grand Oaks Reserve. The $100 million mixed-use community is planned for 615 acres at the intersection of state highways 105 and 321 in Cleveland [10 minutes north of Grand Texas -ed]. The community sits a few miles north of Valley Ranch Town Center at Interstate 69 and the Grand Parkway, about an hour north of downtown Houston.
Yihai Group and its U.S. subsidiary based in Willis — McKinley Development Co. Inc. — plan to develop 976 single-family homes in Grand Oaks Reserve. The first five model homes as well as 21 inventory homes are expected to start construction in March or April. McKinley Development plans to deliver about 200 home sites in the community’s first phase of residential development…