McALLEN, Texas – Laredo-based Killam Development has purchased a 3,400-acre parcel in the Rio Grande Valley for a large master-planned community.
The seller was Hunt Valley Development, a company controlled by the family of Ray L. Hunt, son of the late H.L. Hunt, founder of Hunt Oil.
NAI Partners brokers Carlos Marquez and Brett Lum represented Hunt Valley Development in the sale. The land spans areas of South Mission and McAllen, Texas.
“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 said the planned project will feature walkable neighborhoods, interconnected walking trails and parkland, and strong ties to nearby entertainment, commercial districts and educational institutions.
The developer has engaged Able City and Dover Kohl—teams of architects, designers, land planners and artists—to guide the transformation of the centrally located tract into a vibrant neighborhood. Their collaborative process will incorporate professional expertise and public input to shape an entertainment district, community event spaces and public art installations.
Able City will lead a transparent community engagement program that includes stakeholder meetings and a public workshop to solicit feedback and ideas from residents and local stakeholders.
Construction is expected to begin early next year, with the first homes anticipated to be available for sale in the fall of 2020.
Dec. 9, 2019 Realty News Report © 2019
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