The event marked the start of construction for the latest project by GBMC Communities, the company's fourth multifamily project in New Braunfels.
The update
During the ceremony, Max Caruana, developer at GBMC Communities, presented a donation of $10,000 to the New Braunfels Chamber of Commerce’s Confluence Program.
"We think it's a phenomenal idea to bring all parts of this great community together—with the chamber, the city and the county," Caruana said.
Jonathan Packer, president and CEO of the chamber, responded by emphasizing the connection between economic development and housing.
“This project and the projects [GBMC Communities] do have a lot of hand-in-hand with workforce issues, making sure there's enough housing for the people in this economy,” Packer said.
The details
Caruana aims to fill a niche between apartments and single-family homes, he said.
“We always try to position ourselves between apartments and single-family homes,” Caruana said. “Apartments are rental properties and single-family homes come with a higher price point. ... Our condos offer a middle ground with amenities and a sense of community that single-family homes don’t offer.”
The development will feature floor plans ranging from studios to three-bedroom units and include amenities such as an off-leash dog park, an outdoor kitchen and a swimming pool.
“One of the challenges has been the longer permit periods, which have been growing over time. ... Balancing permits with financing is crucial," Caruana said
The timeline
Caruana expects construction for the Dovetail Condominiums to be completed by the beginning of 2026.
"Our goal is to keep the two buildings as close to each other in terms of completion as possible,” he said.
