Aussies jump 2,400-acre outback in New Braunfels

NEW BRAUNFELS – Veramendi, a $1.5 billion development project, has been approved by New Braunfels City Council. Located along Loop 337 between Hwy. 46 and the Guadalupe River, Veramendi will stretch 2,400 acres and will become the first true master-planned community in the 1-35 Corridor.

It is being developed by Australian consortium, ASA Properties.

The project will include nearly 6,000 homes — up to 1,000 multifamily and student housing units — and a 30-acre mixed-use town center.

The community will also feature a Guadalupe River resort hotel, 480 acres of public parks, a university, a hospital, two elementary schools, 80 acres of retail, and corporate offices.

Howard Payne University is acquiring a 50-acre parcel in the development. The university is aiming for a 2016 groundbreaking and will build in phases.

ASA Properties and the family owners of Word-Borchers Ranch are teaming on the project. Groundbreaking is expected late this year or early next year on the family-owned ranch.

Development of the project will occur during the next 25 to 35 years.

Source: Veramendi

Read more at BisNow and the New Braunfels Herald-Zeitung.

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