Headwaters at the Comal gets $1.2M grant for further redevelopment

The Headwaters is currently fundraising for Phase 2, which will construct the 6,400-square-foot Center at the Headwaters facility. The facility is expected to cost $8 million with an additional 20%-30% of construction cost increases anticipated over time for a total cost of $9.11 million-$9.68 million.

NBU is expected to contribute $4 million to the project, and the community has contributed approximately $934,000 so far, according to city documents, leaving a funding gap of approximately $3.07 million.

On March 31, the NBEDC held a public hearing and voted to recommend the $1.2 million grant for the Headwaters project. With the grant funding, the project’s funding gap is now $1.85 million.

The Headwaters commissioned EcoMetrics LLC, a firm specializing in developing impacts for projects whose economic impacts require a monetary valuation to conduct an impact analysis.

According to the study, the market value of the proposed improvements is approximately $8.9 million, while the social value is estimated to be $88.94 million.

Once complete the center will include a 200-seat conference room, restroom facilities, a visitors center, a 60-person meeting room and more.