Project in Texas City to mean 7,000 homes
Lago Mar, with outdoor shopping center, to be built in area viewed as ‘next major hub’
— reported by the Houston Chronicle
A Houston developer has purchased 3,350 acres of land divided by Interstate 45 for a master-planned community that will bring thousands of new homes to Texas City.
Land Tejas Cos. is developing the project, called Lago Mar, which will include about 7,000 single-family homes and an outdoor shopping center with a neo-traditional downtown theme, according to the developer.
Job growth in the transportation, chemical and medical industries will help drive demand for homes in the project, said Al Brende, a principal at Land Tejas.
Lago Mar could take 15 years to be completed.
Road work will begin immediately on the west side of I-45, with home building set to start next year. Prices are expected to range from the low $100,000s to the $400,000s.
Homes will be built around lakes and a resort-style recreation center and water park.
Some will be in gated communities. Land Tejas specializes in developing guard-gated residential projects under the Canyon Gate brand.
The land, formerly known as the Bishop tract, was purchased by Land Tejas and its investment partners for an undisclosed amount from a London-based group called Lon/Tex.
The community also will add more shops and restaurants to the area, which is just north of the Mall of the Mainland, a Wal-Mart Supercenter and the Gulf Greyhound Park dog track.
About 500 acres, concentrated primarily within the project’s two miles of frontage along I-45, are being set aside for commercial development. An outdoor shopping center is planned for the intersection of I-45 and Holland Road, although no tenants have been announced nor has a groundbreaking date been set.