Briggs Ranch GC, GC of Texas 'eagles’ nest near SABriggs Ranch GC, GC of Texas 'eagles’ nest near SAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=9982015-05-19T06:51:00Z2015-05-19T00:00:00Z

SAN ANTONIO - San Antonio-based Brass Real Estate Funds has teamed with Convergence Communities of Wyoming to build a $100 million master-planned community on 880-plus acres.

The Briggs Ranch Golf Club and Golf Club of Texas, now undergoing renovation, with parcels abutting US 90 and Texas 211, would surround the community.

The development team hopes to break ground in 14 to 18 months.

Depending on how the market absorbs the development, the unnamed community will consist of five to eight subdivisions, with 2,200 to 3,000 houses; 600 to 900 apartments; about 500,000 sf of retail space and 250,000 sf of office space.

The Golf Club of Texas is what attracted Brass Real Estate to this area. Opened in 1999, the golf course had been sitting idle but is currently undergoing a $3.5 million renovation.

Employment growth was another factor.

The land sits just west of the San Antonio city limits in the extraterritorial jurisdiction, or ETJ, which extends five miles beyond the city limits.

It also rests inside the Medina Valley Independent School District, and prospective homeowners could qualify for a 100 percent loan via the U.S. Department of Agriculture’s Single Family Housing Guaranteed Loan Program.

The homes would cost between $230,000 and $690,000.

“This area is in the geography that the USDA has already approved,” said Rodriguez, CEO and founder of Brass Real Estate.

See San Antonio Market Research.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2015/05/13/san-antonio-real-estate-fund-buys-880-acre-master.htmlRead more at {Source}

 Search NewsTalk Texas