Waco's Downtown River Corridor Gets $14 Million Senior Housing Project

WACO (Waco Tribune-Herald) – Houston developer Lankford Interests will break ground Thursday on a $14 million senior housing project on the banks of Lake Brazos.
River Park Apartment Homes, located along Martin Luther King Jr. Boulevard near the East Terrace Museum and Mill Street, will have 48 one-bedroom and 76 two-bedroom apartments. Monthly rents will range from $222 to $695.
Residents must be at least 55 years old. According to Lankford spokeswoman Lisa Ray, one person renting a unit can make no more than $21,180 a year, while a two-person household can make no more than $24,180.
The first units should become available by Dec. 1.
Local businessman F.M. Young donated the project's roughly 12 acres to the Providence Foundation, which received the $1.2 million Lankford paid for the property.
The complex is being financed by JP Morgan Chase in Dallas and Red Capital Market Inc. of Ohio. The city is lending Lankford $417,000 at no interest through a tax increment financing district created to promote downtown development.

Waco Subdivision "Lost Oaks" Phase I Lots Completed

Press Release

October 10, 2007

Frontera Development has completed construction of 21 lots in phase 1 of the Lost Oaks subdivision. All of the lots were purchased by regional home builder Majestic Homes. They will be affordable homes in the 100's to 120's and are located in the top rated, Bosqueville school district.

There are two more phases in the works currently. The second phase will connect to phase 1 and will provide another 23 starter home lots, some of which are heavily tree covered with beautiful live oaks and cedar elms. This phase backs up to a meandering creek, which gives the lots an added dimension to their look and their values.

The third phase will be on the opposite side of the property and will connect back to Gary Lane. This phase will have 35 lots for prospective builders and homeowners to choose from. Overall the Lost Oaks master plan calls for more than 400 single family homes, multi-family, retail, and commercial space as well.

The Waco Real Estate market has been shifting its growth trends towards the China Spring and Bosqueville areas for the last few years. That growth is expected to continue and even increase over the next few years. The Bosqueville area and specifically the Lost Oaks subdivision are poised to capture a large portion of the growth due to their long frontage on the China Spring Highway, proximity to the schools and the fact that the neighborhood is 3 to 5 miles closer to Waco than most of the other subdivisions in China Spring.

For more information on these lots or any others in the Waco area, please call Mark Felton at 254-495-1241.

Frontera Development is a full service real estate development firm based in Waco, Texas. The firm focuses on residential, commercial developments and master planned communities that emphasize the values of New Urbanism and Traditional Neighborhood Development. For more information, contact Mark P. Felton II at 254-495-1241.

Other projects that Frontera Development are working on include, Cotton Crossing & Rancho Lorena.

Homestead Independent Living Begins Construction Near Providence Health Center

WACO (Waco Tribune-Herald) – The Homestead, an upscale community designed for independent, mobile seniors, is being developed on about four acres at Old McGregor Road and American Plaza.
Local developers Spike Pattillo and Russell Trippet will build 21 two-bedroom residences featuring full-service kitchens instead of the community dining hall seen in similar developments. Monthly rent will range from $3,150 to $3,550.
The Homestead, situated near Providence Health Center and the KWTX-TV studios, is scheduled to open next June.

Frontera Development Breaks Ground on "Lost Oaks"

Press Release:
January, 5th 2007

Frontera Development has secured a 28 acre tract of land across from Washington Lane on the China Spring Highway that will become a 4 phase 80 lot subdivision. The lots will mainly be marketed to builders who are seeking to build in the "starter home" and "mover upper" catergories.

The first ground was broken this week and lots should be available for delivery to builders sometime in the summer. Financing was provided by Central National Bank and the construction contract was awarded to Barnett Contracting.

"Mark Felton, the owner of Frontera Development says he chose the property based on the continued growth in the Waco-China Spring Corridor"


Frontera Development is a full service real estate development firm based in Waco, Texas. The firm focuses on residential, commercial developments and master planned communities that emphasize the values of New Urbanism and Traditional Neighborhood Development. For more information, contact Mark P. Felton II at 254-495-1241.

Frontera Development is currently working on other projects in the Waco area such as Cotton Crossing & Rancho Lorena.

www.cottoncrossing.net
www.rancholorena.com
www.frontporchhomes.blogspot.com