Sullivan Commercial Realty is proposing a 250-acre residential community west of San Antonio.
The project, on the southwest edge of Bexar County, calls for up to 1,010 single-family homes built in six phases, the San Antonio Business Journal reported. Lot sizes will start at 4,200 square feet, with at least 10 percent of the homes occupying 6,000-square-foot lots.
The local firm, headed by president Jamie Sullivan, is seeking approval to form the Espino Public Improvement District, a quasi governmental entity that can levy taxes to fund infrastructure.
Financial projections indicate the PID could raise $31.4 million in revenue for the development over 30 years.
The developer plans to spend nearly $70 million to construct sewer, water and drainage systems, along with road and utility upgrades. The district will also fund water line extensions to accommodate the development.
The development will also include improvements to Masterson Road, such as turn lanes, traffic signals, sidewalks, crosswalks and pedestrian safety features. These upgrades are expected to ease congestion and increase safety.
Two parks and over 30 acres of green space are planned. A linear creek park will feature a 10-foot-wide path.
The proposal would be one of many large-scale housing developments contributing to San Antonio’s residential construction boom and its status as the homebuilding capital of Texas. Another major project is Johnson Development Services and Heartwood Development Company’s 800-acre community with 2,000 homes on San Antonio’s Far West Side.
The city continues to attract homebuyers due to its lower median home prices compared to other Texas metros. San Antonio’s median home price was $312,000 in September, significantly below Austin’s median of $425,000 during the same period.
— Andrew Terrell
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