US$ 15.3M loan secured for project Indian Springs community in Texas

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Construction is now set to begin on an Indian Springs community in Texas after the developers secured a $15.3 million loan. Trez Capital provided Windy Hill Development with the funding needed to build its four-phased 583-home community in Texas. According to Trez’s V.P, John Sullivan, the project is a welcome addition to the rapidly expanding region in Harris County. Especially since this will help cater to the shortage of single-family homes and lots in Texas.

For phase I, the League City-based developer intends to bring 150 lots to the city by mid-2023. These will be followed by another 150 lots in the second phase, which will be delivered after about 24 months.

Development plans for the Indian Springs community in Texas

The Indian Springs community in Texas will be built on a 138-acre land situated South of Indiana Shores Road, between Huffman and Crosby.

Co-founder Randy Hall said the Indian Springs community in Texas is a replacement project for the Municipal Utility District, which the developers sold years back.  Harris County’s Flood Control District had approached them for it, shortly after Hurricane Harvey and the $2 billion-plus bond issue passed. After the sale, the developers searched for a new site around the Crosby area. Hall said they made this move because they had foreseen the expansion coming to FM 2100.

Hall also mentioned that the Miami-based Lennar Corp has been contracted to build the homes on 40-foot-by-120-foot lots. He also stated that the houses would have a price range starting from $290,000 and above. In addition to housing, the Indian Springs community in Texas also features walking trails, 3 acres of parks, and an amenity center. The project is also being zoned to the Crosby Independent School District.

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Presently, preparations are being made on the first two plots for the first two sections of the Indian Springs community. Hall said he was excited to have Lennar Homes on the project, to incorporate its renowned Next Gen floorplan. In simple terms, this is best described as a home within a home or a mother-in-law-type suite.

Besides the Indian Springs community in Texas, Windy Hill also has seven projects underway around the Gulf Coast area. These projects are located as far as Huntsville and south to Alvin, Hitchcock, and Needville. On top of all that, the developers are days away from making a 400-to 500-acre land purchase in Liberty County.