McALLEN, Texas – (Realty News Report) – Laredo-based Killam Development has acquired 3,400 acres in South Texas, near the Mexico border, for a master planned community.
The seller Hunt Valley Development, controlled by the family of Ray L. Hunt, the son of the late H.L. Hunt, founder of Hunt Oil.
NAI Partners’ Carlos Marquez and Brett Lum represented the seller, Hunt Valley Development, in the transaction. The property is locatedin South Mission and McAllen.
“This property has belonged to the Ray L. Hunt family for decades, and we believe this transaction is the right opportunity to continue growing and enhancing the quality of life here in the Rio Grande Valley,” said Paul Curtin, vice president of Hunt Valley Development. “When we decided to sell, we knew it had to be just the right buyer – someone who would share our commitment to this community and who would be a good neighbor and partner. We certainly found that in Killam.”
Killam Development indicated the project will include walkable neighborhoods, walking trails and park space, connections to entertainment and commercial districts and education centers.
Killam Development is working with Able City and Dover Kohl, a group of professional architects, designers, land planners and artists who will use their expertise and the public’s input to help transform the centrally located property into a neighborhood with an entertainment district, community events, and public art.
Able City will lead a comprehensive and transparent public input process that will include stakeholder meetings and a public workshop to get input and feedback from the community.
Construction is expected to begin early next year, with home sales anticipated in the fall of 2020.
Dec. 9, 2019 Realty News Report Copyright 2019
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