Proceeds from the sale of bonds from Myrtle Creek Municipal Management District No.1 of Ellis County
Use of Proceeds:
Reimbursement and funding of eligible public improvements
Myrtle Creek
Ellis County
Myrtle Creek is a 1,263-acre primarily residential master-planned community located within the city limits of Waxahachie, Texas, approximately 30 miles south of Dallas. Myrtle Creek is entirely located within Myrtle Creek Municipal Management District No. 1.
The project is being developed by Hines.
At full build out, MyrtleCreek is anticipated to include 2,491 single-family residential units, 28 acres of multi-family and duplex development, 40 acres of commercial, and various community amenities.
At the time of issuance:
30% of the residential units had been contracted to homebuilders.
12% of the residential lots had been finished.
$10.5M of nonrefundable earnest money had been deposited by homebuilders.
$16.7M of eligible infrastructure expenses were currently outstanding to the Developer.
