Kerrville City Council members, along with representatives from Lennar Homes, joined together on Friday, November 5th to break ground on a new workforce housing development situated on approximately 34 acres along Olympic Drive and Loop 534 in northeast Kerrville.
Through a public/private partnership with the city, Lennar is planning to build approximately 130 single-family homes priced for moderate-income families in the new “Ridgeland” neighborhood.
The City of Kerrville deeded the 34 acres to Lennar earlier this year with the agreement that Lennar would begin construction on a mix of single-story and two-story homes within the next 12-24 months. Lennar is responsible for all other hard development costs.
Home prices are expected to range in the low to mid -200,000’s for approximately 1,034 to 1,874 square-feet. The company’s goal is to have some residents moving in as soon as the spring of 2023.
When the project is completed, property tax income generated from the homes in the development is expected to add roughly $25 million in value to the community’s tax base.
The city is expected to also benefit from an increase in sales revenues resulting from new residents spending their money in Kerrville.
City leaders say that the partnership between Lennar and the City of Kerrville helps bring to fruition one of the major goals of the citizen-led Kerrville 2050 Comprehensive Plan, which identified workforce housing as a primary need in the community for future economic health, while still maintaining the quality of life that the hill country is known for.
According to Kerrville Mayor Bill Blackburn, “This project aligns perfectly with the city’s need for strategic, quality growth, and with the community’s development while still maintaining our small-town charm.”