Transaction Details

Par Amount:

$42,800,000

Interest Rate:

5.500%

Closing Date:

07/30/2024

Debt Structure:

Current Interest Bonds

Pledged Revenue:

Proceeds from the sale of bonds from Comal County WID No. 3 & 3A

Use of Proceeds:

Reimbursement of eligible public improvements
Aerial of Mayfair project

Mayfair

Comal County

  • Mayfair is a 504-acre mixed-use master-planned community located within the extra-territorial jurisdiction of the City of New Braunfels, approximately 37 miles southwest of Austin. Mayfair is entirely located within Comal County Water Improvement Districts Nos. 3 & 3A.
  • The project is being developed by Southstar Communities.
  • At full build out, Mayfair is anticipated to include 741 single-family residential units, 191 townhome units, 286 build-for-rent units, 474 apartment units, and 105 acres of commercial.
  • Atthe time of issuance:
    • 72% of the residential units were contracted with multiple third-partyhomebuilders.
    • 3%of the residential units were complete or under vertical construction.