$130M subdivision near Fixer-Upper town$130M subdivision near Fixer-Upper townhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=175872017-09-20T05:00:00Z2017-09-20T21:40:00Z

​​​​​​​​An example of a home built by Loera Home Builders, with a mixed stone and brick exterior.LORENA, McLENNAN COUNTY – Loera Homebuilders has announced it will develop a $130 million subdivision that the City of Lorena has pledged to annex.

The developer will build about 260 homes on half-acre lots near Birdie Ln. and Rosenthal Pkwy., which will carry prices starting at $500,000.

Construction should begin in spring 2018, and the subdivision will build out in the next ten years.

Lorena will spend an estimated $1 million on infrastructure improvements that will extend water and sewer lines to the property.

The subdivision will lie in a Tax Increment Reinvestment Zone, meaning a portion of taxes on the homes will go toward paying the bonds Lorena will issue to fund the infrastructure upgrades.​

Waco Tribune-Herald
http://www.wacotrib.com/news/business/subdivision-with-luxury-homes-planned-for-lorena/article_bb0e1866-8063-53ac-87d7-28f5a58c03f9.htmlRead more at the {Source}

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