In a nutshell
The new community will feature 709 lots, which will include 35-foot townhome lots and 40-, 45-and-50-foot lots, according to the news release. The home prices will range from the high $200,000s-$500,000, and the community will also feature walking trails, a playground and a splashpad.
Pelagic Property Group is developing the new community and Trez Capital provided a loan for lot development, according to the news release.
Quotes of note
- “Trez Capital’s funding is contributing to the expansion of the local housing market while also creating opportunities for economic advancement and community enrichment,” Grant Morrow, managing director, U.S. origination at Trez Capital, said via news release. “Magnolia has a lot of positive aspects that make it an appealing place to live, and the new Sherbrooke community will provide a modern residential oasis for the area.”
- “Magnolia has emerged as a sought-after destination for families and new homeowners, offering a welcoming community with spacious properties and a serene, nature-filled lifestyle,” Darren Ward, owner at Pelagic Property Group, said via news release.
Sitework construction will begin in the second quarter of 2025, with completion of the lots anticipated in the second quarter of 2026, according to the news release.
Note: This map is an estimation of the development’s location and may not reflect its exact boundaries.
