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New life for dormant Floresville subdivision
FLORESVILLE -- A local casualty of the recent national recession soon could rise from the ashes, as a sale is in the works for a 105-acre property that one day could become The Parks residential subdivision. Mark Mitchell, one of the project’s original developers, addressed the Floresville City Council at its Feb. 13 meeting.
Mitchell’s company, Crossbrace Development, began planning the 230-lot subdivision located near the junction of Sunnyside Road and C.R. 405 in 2005 at the height of what later became known nationally as the “housing bubble.” By early 2008, the company, the city, and Wilson County had formed a freshwater supply district to finance the water infrastructure and a 150,000-gallon water tower was completed a year later.
Housing demand fell dramatically in late 2008 when the bubble burst, resulting in The Parks reaching a standstill. No homes have been constructed in the master-planned community -- which would have been voluntarily annexed into the city.
Mitchell said he and the prospective new buyer plan to comply with all current city regulations and that The Parks will not require any city financial assistance.
“This is a pay-as-you-go project,” Mitchell said. “There’s no tax abatements. There’s no shifting of costs from us to you.”
He added, “The city needs not go out on a limb to support development. They need to welcome developers, but [the developers] need to pay their own way.”
For more about the Feb. 13 council meeting, see related article page 3A.
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