Project Details
- Type: Build Ready Lots
- Units: 380 lots
- Acreage: 80 Acres
- Equity Raise: $4.5M
Red Oak alongside Aspire Ventures will develop land for a 380 single family home community in the city of Seguin, Texas situated 50 minutes from the highly sought after Austin, Texas and 40 minutes north east of San Antonio, Texas.
This project will be done in two phases with three builders purchasing the lots at approximately 125 lots each. This will begin with the feasibility studies, land acquisition, entitlements, and engineering; collectively known as Phase 1.
After phase 1, construction will begin to make the land build ready at which point the single family lots will be sold. All purchase agreements will be in place prior to development. We expect the permit, entitlement and engineering process to take a total of 12 to 15 months. After Phase 1 is completed, development will take place for single family lots expected to take 12 months. The total project timelines is expected to take between 30 to 36 months.
The main focus as to why the Red Oak Team is building in the area is due to the critical shortage of housing and immediate need to bring build ready lots to builders in the area. The lots will offer 5,000 SQFT of space allowing homes in the 1,500 to 2,400 SQFT size which will price in the $350K to $400K range; a segment of the housing market Red Oak is heavily focused.
For more information, reach out to Tom at info@redoakvc.com