Proceeds from the sale of bonds from Brazoria County MUD No. 92, Harris County MUD No. 597, and Furst Ranch MUD No. 1 of Denton County
Use of Proceeds:
Reimbursement of eligible public improvements
Creekhaven, Wildrye, and Furst Ranch
Various Counties
Creekhaven, Wildrye, and Furst Ranch are primarily residential master planned communities aggregating 1,912-acres. Creekhaven and Wildrye are located in the Houston MSA and Furst Ranch is located in the Dallas-Fort Worth MSA.
The projects are being developed by Spur Portfolio Holdings, L.P., an affiliate of Starwood Land.
At full build out, the Projects are anticipated to include 4,812 single-family residential units, over 100 acres of commercial development, and extensive community amenities.
At the time of issuance:
38% of the lots were finished or under horizontal development.
50% of lots were sold or under contract with third-party homebuilders.
2% of the homes were complete or under vertical construction.
29% of the reimbursable budget had been spent with $89.1M of reimbursable costs currently outstanding to the Developer.
