The master-planned community will include three- to four-bedroom homes ranging from 1,400 to 2,200 square feet. New single-family homes will be priced from $250,000 to $325,000, while townhomes will start from $160,000.
Earlier this year, another master-planned community was proposed to the city council, which council members supported. This proposal was for the creation of a Municipal Utility District (MUD No. 1) for a 360-acre development near Sam Houston National Forest on Huntsville’s southern edge.
State law allows developers to create these utility districts as a local government authority to levy additional taxes on future residents. Tax revenue in the form of debt can help fund the creation of public infrastructure, as well as the maintenance of parks and other recreational facilities.
The Hunstville City Council is expected to vote on the proposal in the near future. If Waterstone’s proposal is approved, the city council will have to decide whether it wants to incorporate the new community into MUD No. 1 or create a second utility district.
A spokesperson for Waterstone could not be reached for comment.