National homebuilder Meritage is planning to close phase two of the newly developed White Wing subdivision in New Braunfels by the end of this month. Last year it closed phase one from real estate investment firm Rockspring Capital.
Rockspring Capital purchased a total of 117 unfinished lots in the subdivision in February of 2012, and planned to invest $700,000 to complete residential development.
Meritage Homes Built White Wing Quickly and Efficiently
“Residential lots are in scarce supply and high demand throughout Texas,” Jim McAlister IV, President and CEO of Rockspring Capital, said in a press release last year. Keeping that in mind, Meritage Homes did not waste any time building homes in the White Wing subdivision. Meritage purchased 46 of the lots in Phase one last June, and the community was open to the public in October.
The homes in the 40-acre land parcel, located near the intersection of Seguin Avenue and Klein Road, range from 1,522 square feet to 3,060 square feet. They are priced between $156,990 to $196,990.