Southland Marketing and Development, Inc. marketed and conducted a one-day Land Sale for a 1,000+ acre development off of FM 2843 just west of Mustang Creek Ranch on property formerly owned by Double B Wildlife Ranch.
Southland brought potential buyers from as far away as California to purchase 2.5 acre lots for as low as $49,900 and creek-front (Mustang Creek) estate lots marketed at $139,900 (https://landsales.southlandgrp.com/texaslandsale).
The Village of Salado got a couple of calls about Salado after the initial out-of-state marketing campaign by Southland launched, prior to the one-day land sale.
On the morning of Oct. 15, two large tents were set up on the old Tyler house property to welcome the potential buyers who had to book appointments through the website or by calling Southland at 877-717-5263.
Large off-premise signs were placed around the Village on Main St. and the interstate access roads, which the Village directed the company to take down because they were in conflict with the sign ordinance.
Potential buyers were taken out to the property by customer representatives to view the property, which included a 6,142 sq. ft. residence which may be the “luxurious clubhouse with guest suites, pool, fitness room, hot tub and relaxing lounges both indoor and out” marketed on the website. The website also promotes a 14-acre park and lake on the property.
The marketing website also states that the development includes “underground power and water with a beautiful Boulevard entrance for easy access.”
At the one-day Land Sale, customer representatives took reservation payments of 20% on proposed lots until the subdivision is platted, water supply issues resolved and infrastructure completed.
No concept design or plat has been submitted to the Village of Salado. The property is in the extra-territorial jurisdiction of the Village of Salado and any proposed subdivision would have to be approved by the Village of Salado.
The marketing material on the development says that it will have community water, rather than each owner drilling their own water wells like those at Hidden Springs
The property sits in the Certificate of Convenience and Necessity (CCN) of the City of Georgetown, which took over the now-defunct Chisholm Trail Special Utility District. Phone calls and emails to the utility department at Georgetown were made by Salado Village Voice with no response.
If the subdivision cannot be served by the City of Georgetown, the developer will have to form its own water service provider after being released from the CCN of Georgetown.
That water service provider will have to apply for a permit for a large well from the Clearwater Underground Water Conservation District (CUWCD).
The property is owned by Mor-Maur Mustang, LLC.
On June 7, Mor-Maur Mustang, LLC purchased three parcels totaling 1,105 acres from Double B Wildlife Ranch. Mor-Maur Mustang, LLC principal is James Kerby, a well-known Austin-area developer.
Kerby is a central Texas developer whose projects have centered around golf course communities in the Austin lakes region.
Among Kerby’s developments are these:
• Bayplace, a 750-acre development at Horseshoe Bay that included an 18-hole golf course (partnering with Douglas Jaffe and Russell Parker) in the early 2000s.
• Flint Rock Falls, a golf course and residential development that began in 2002 in the Lakeway area.
• Forest Creek, a master planned golf course community in Round Rock.
• Rocky Creek Ranch, a 396-home development that went bankrupt before any homes were built in the 2008 recession and housing bubble. Rocky Creek Ranch was bought by Hillwood Communities in 2012 and finally developed.
In addition to the Salado development, Kerby is actively developing a 245-home development on 452 acres in Marble Falls, according to a news release from the Texas A&M University Real Estate Research Center.
The Austin Business Journal reported that the Marble Falls development was given zoning approval in March 2022. (https://www.bizjournals.com/austin/news/2022/03/07/thousand-oaks-marble-falls-rezoning.html)
Kerby is also developing Lakeside Meadows, a 420 acre mixed use urban development south of Lake Pflugerville that will include a corporate campus, industrial, office, commercial, single family residential and multi-family rental. According to a report in the Austin American-Statesman, mixed use commercial could include up to 45 residential units per acre with minimum building heights of four stories. Single family residences would have a density of 10 per acre, according to the Statesman report (https://www.statesman.com/story/news/local/pflugerville/2022/01/13/pflugerville-officials-discuss-rezoning-changes-lakeside-meadows-project/6510930001/)
If this development is a few hundred lots, it will add to the inventory of developments already on the books in Salado.