The overview
The project involves the development of both multifamily and single-family units with around 300 multifamily units and over 200 single-family units planned, said Kevin Mokos, the Texas development director of Red Hill Ventures. There will also be about 100,000 square feet of commercial space.
About 240-260 homes are slated for the community, spanning 1,600-2,500 square feet, as well as up to 300 luxury multifamily apartments, ranging from 700-1,200 square feet, Mokos said.
The development is also slated to have 110,000 square feet of commercial space.
According to a July 11 agenda packet shared with Magnolia City Council members, there will be a midsize shopping complex that could include services such as food and beverage options, medical services, and child care. The center is expected to have a midsize grocery store or fitness center as its anchor.
It will be surrounded by green space and walking trails, according to the presentation.
The background
According to officials from the development, the staff of the development company has requested annexing the property, which will allow the property and sales tax revenue to be attained by the city in return for the city providing services.
The approved agreement from Aug. 8 allows progress on permit drawings, preparing for construction after a temporary development moratorium is lifted by the city of Magnolia, Mokos said.
The city issued a moratorium on development in December due to an insufficient supply of water, and it was extended during the meeting for an additional 120 days.
According to city officials during the meeting, the city cannot ensure water and wastewater services will be provided until the second quarter of 2024.
However, the development is allowed to proceed, although water connections may not be available until next year, city officials said.
The approach
In addition to bringing more housing and retail, the project will play a role in tackling local transportation concerns, including safety improvements through road realignment, Mokos said, such as:
- Portions of right of way were committed to widen FM 1488.
- Utility easements on the property were dedicated, now serving the Mill Creek community.
- Right of way dedication facilitated the realignment of Mill Creek, significantly enhancing safety by addressing a hazardous intersection for travelers along FM 1488.
By being annexed into the city, the development will be included within the city's boundaries, subjecting it to city regulations, services and taxation.
There is no set start date for construction, Mokos said.
