This week in Houston real estate: New 55+ community, Texas bullet train and more

by Corina Munoz

 

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The Woodlands gets new 55+ community

Caldwell Companies announced plans for a 1,200-acre active-adult community north of The Woodlands. The community will have 3,000 homes specifically tailored to buyers 55 years old and up and will be named Chambers Creek Ranch. Located off I-45 and Calvary Road in Willis, the development is planned to open in 2020, according to Caldwell Companies CEO Fred Caldwell. Homes are set to range in size between 1,300 and 1,500 square feet and range in price from the low $200,000 to more than $1 million.

Texas bullet train gains momentum

Construction for the Texas bullet train could begin in late 2019 or early 2020 according to its developer, Texas Central Partners. The $12 billion project has plans for a Dallas-to-Houston high speed rail link with a midpoint stop near Texas A&M University. The train is modeled after Japan’s Shinkansen high-speed train for its safety and reliability. The system will call for two tracks, one northbound and one southbound, and will not share tracks with freight trains.

Hurricane Harvey recovery efforts continue

The Department of Housing and Urban Development is providing an additional $652 million to aid recovery from Hurricane Harvey, funds that will supplement the $5 billion already given by HUD. The grant comes from the Disaster Recovery Program to fund restoration of homes, businesses, and infrastructure. “HUD is committed to working alongside Texans to rebuild their homes, restore their businesses and repair their critical infrastructure,” said HUD Secretary Ben Carson.

Wells Fargo offers grants to Houston home buyers

Wells Fargo announced a partnership with NeighborWorks America and other nonprofit organizations in supplying 15,000 grants to qualifying home buyers in Houston, totaling $6.1 million in housing assistance. Avenue, Fifth Ward CRC and Tejano Center will determine eligibility and disburse the grants. “The NeighborhoodLIFT program is another example of our commitment to Houston and our efforts to build better communities through sustainable homeownership,” said Wells Fargo’s Texas lead region president David Miree.

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