Pre-sales of homes at Marble Falls’ first large-scale development in three decades is set to begin this year, according to an announcement from the developer.
Harvard Investments announced this week its plans to build about 1,250 homes as part of the 242-acre Gregg Ranch development near the intersection of Texas 71 and U.S. 281. Pulte Homes, the development’s first builder, anticipates unveiling floor plans and designs as it begins pre-sales on roughly 100 homes this year.
Gregg Ranch has been in development for more than five years so far, and, while some work has been accomplished during this time, it has faced delays due to its size, location, and other factors.
“Obviously, that’s a big development, and it’s in an area that has not had city utilities,” said Christian Fletcher, executive director of the Marble Falls Economic Development Corporation. “So, it took awhile to get everything in place to get utilities on that site.”
Another factor, Fletcher said, was difficulty finding a builder due to the site and the market.
“Builders who are active in Central Texas are accustomed to much denser markets where there’s a proven record of home sales and, frankly, better site conditions,” he said. “It had been difficult to get a home builder that was active in Central Texas to leave a very lucrative situation closer to Austin or the I-35 corridor.”
Marble Falls has been trying to attract more housing development in recent years, particularly since the opening of the Baylor Scott & White Medical Center on Texas 71. Only one out of every five of the hospital’s employees live in Marble Falls, Fletcher said.
“We have far too many people that drive from extended distances to come to work in Marble Falls, specifically because of affordability and availability challenges,” he said. “So, we have been trying to encourage residential development to allow more people who want to live in Marble Falls the ability to do so.”
Homes will range from 1,500 square feet to 3,000 square feet and will have two to four bedrooms and bathrooms and two- and three-car garage options, according to the announcement. Most homes will be single-story.
Planned amenities include an outdoor pool, a barbecue area, a play area, bocce ball, horseshoe pits, jogging and bike trails, and a dog park.
Pulte Homes plans to begin building Phase I once Harvard Investments completes construction of the community’s infrastructure.