Temple 75 – 640 Home Master Community

Project Details

Red Oak alongside Aspire Ventures will develop land for a 300 single family and 340 apartment, mixed use community 15 minutes from the US Army’s largest base, Fort Hood approximately one hour north of Austin, Texas. This project will be done in three phases starting with the land acquisition, entitlements, engineering. After phase 1, construction will begin to make the land build ready at which point the single family lots will be sold to 3 builders. All purchase agreements will be in place prior to development; 1 LOI is already in place.

We expect the permit, entitlement and engineering process to take a total of seven to nine months. After this phase is completed, horizontal development will take place for the 55 acres for single family lots and then 8 acres for retail/commercial zoning followed by the development of the remaining acreage allocated to multifamily construction.

The main focus as to why the Red Oak Team is building in the area is due to the critical shortage of housing for the soldiers and local renters. The soldiers often live in motels and hotels at premium rates as there is a massive shortage of rentals near Fort Hood. The Department of Defense provides a stipend to the soldiers and officers, which in turn subsidizes their rent and offers investors of the product an attractive stream of income. Additionally, Temple and Belton are seeing an influx of population as the growth path of Central Texas continues to have impact across the board.

For more information, or if you’d like to be an investor in the project, please reach out to Tom at info@redoakvc.com.