An Australian development company came to the United States looking for the perfect place to build a master-planned community. They set their sights on Texas, and instead of going with a big city such as Austin or San Antonio, they settled on a town right in the middle. Our Alex Stockwell explains why New Braunfels stood out among other options, and what this means for the community's growth.
The Interstate 35 corridor between Austin and San Antonio is exploding with growth.
So much so that it captured the attention of an international developer looking to build a master-planned community.
ASA Properties chose New Braunfels as the site to build a massive multi-use community.
"They pinpointed the Austin-San Antonio area as the place they wanted to go. They felt that that was the place in the whole country that had the best future long term," said Michael Meek with the New Braunfels Chamber of Commerce.
The Australia-based company spent the past 7 years working with the land owners to negotiate an agreement.
The Veramendi community project will sit on 2,400 acres of land in the city's center, adding 10 percent of land area to New Braunfels.
Construction is expected to begin within the next 12 to 18 months.
The Veramendi property will feature housing, retail and business sites, a hospital, schools, and much more.
"They only had to add 40 acres of parks in this development and they're adding 400 acres of parks," said Meek. "They're solving drainage issues, not just on their property, but upstream of their property. So, the City of New Braunfels is getting a really win-win proposition with the ASA Properties and the Word-Borchers Ranch."
Additionally, the developer recently committed to providing $2.5 million to expand Loop 337 in New Braunfels.
That's half of what Texas Department of Transportation requested the city to match for construction to widen the road.
For years the family that owns the Word-Borchers Ranch said they had been waiting for the right partner to come along to develop the land.
How ASA found the property only adds to the charm of New Braunfels.
"They were driving up and down the corridor, and they stopped at a Rudy's Barbecue one day, and a local realtor overheard them and started answering questions that they had, and the rest is history," said Meek.
Construction on the Veramendi project and Loop 337 expansion is expected to start within the next 12 to 18 months.
There is no set timeline as to when the master-planned community will be complete.
Join the Discussion:
More Stories of Interest:
- Community First! Village Nears Completion in East Travis County
- Tax-Free Weekend Kicks Off
- No Charges After Baby Left in Hot Car Dies in Southeast Austin
- Triple Digit Temperatures Ignite Wildfire Concerns
- Capital Tonight: Week in Review
- Check Your Child's School Rating: TEA Releases 2015 Accountability Reports
- Mexican American Commerce Convention Held in Austin
- North Carolina Man Claims to Have Encountered Bigfoot