Proceeds from the sale of bonds from Williamson County MUD No. 51 & Harris County MUD No. 558
Use of Proceeds:
Reimbursement and funding of eligible public improvements
Nolina and Sorella
Williamson & Harris Counties
This financing included a pooled issuance for two of Johnson Development’s projects, Nolina and Sorella, which are located in the Austin MSA and Houston MSA, respectively.
The project is being developed by Johnson Development Services.
Nolina is a 523-acre mixed-use master-planned community located within unincorporated Williamson County, approximately 39 miles north of Austin. At full build-out, it is anticipated to include 1,341 single-family residential units, 11-acres of commercial and 18-acres of build-for-rent.
Sorella is a 240-acre residential master-planned community located in the extra-territorial jurisdiction of the City of Houston, approximately 41 miles northwest of Houston. At full build-out, it is anticipated to include 858 single-family homes and various community amenities.
At the time of issuance:
99% of the single-family lots were under contract with third-party homebuilders.
$45.1M in reimbursable expenses had already been incurred.
