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tarwood Land is developing Sunterra Lakes, a 4,000-home community in the Houston area. Located about 50 minutes northwest of downtown Houston, the master-planned community spans nearly 1,500 acres at the intersection of FM 362 and FM 529. This marks Starwood's ninth such project in the region, led by chairman and CEO Barry Sternlicht.

    Sunterra Lakes is a sister development to Sunterra, a 2,300-acre Crystal Lagoons community in Katy. The new community will offer similar amenities, including a clubhouse, fitness center, pool, lazy river, splash pad, sports fields, and playground. Financing for the project was provided by Starwood Capital and employee partners.

    Construction on Sunterra Lakes began last year, with delivery of the first homesites expected this summer. Five builders are attached to the project: Ashton Woods Homes, Colina Homes, Century Communities, D.R. Horton, and Lennar. Home prices in the initial phase will range from $300,000 to $600,000.

    The Houston area was a top-selling market for master-planned communities last year, with 12 of the top 50 nationwide. The region's growth has attracted major projects, including a proposed "eater-tainment" development near Katy Mills Mall. This project will feature restaurants, entertainment venues, and a 120-room hotel.