An Exciting New Master Planned Community brought to you by

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An Exciting New Master Planned Community brought to you by
An Exciting New Master Planned Community
brought to you by Shelton/PNL Development.
Kirk Laguarta
[email protected]
Duane Heckmann
[email protected]
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
Tel: 713-647-7800
Fax: 713.647.7830
10497 Town & Country Way
Suite 820
Houston, Texas 77024
LAND ADVISORS ORGANIZATION
A 747± Acre Master Planned Community
Tamarron Lakes is located south of I-10, West of Grand
Parkway on FM 1463, Fulshear, Fort Bend County, TX
Tamarron Lakes is a 747-acre planned community located in the
burgeoning Houston - Katy - Fulshear area of northern Fort Bend
County. Tamarron Lakes is ideally situated on FM 1463 between FM
1093/Westheimer (the proposed Westpark Tollway extension) and
I-10 and offers quick and easy access to these major thoroughfares.
Tamarron Lakes is bounded by Firethorne to the north, Cross Creek
Ranch to the south, and just west of Cinco Ranch and is located in
Houston’s Energy Corridor.
Tamarron Lakes is designed to accommodate approximately 1,695
homes along with the accompanying retail, educational and residential
amenity components. Current planning calls for a dramatic entryway,
accented by a stone tower, a river rock waterfall, a fountain with a faux
bridge and extensive landscaping. The main boulevard to Tamarron
Lakes is planned to be enhanced with decorative water features and
a park-like setting. The community amenities are planned to include a
spectacular recreation area situated on four acres. These proposed
amenities include a 4,700 square foot clubhouse which would include
a multipurpose area, locker rooms and a fitness center. An outside
water park featuring multiple pools, a water slide and a splash
playground are also planned. The 100 acres devoted to hiking trails,
parks, green belts and lakes will provide outdoor recreational activities
for the residents of the community.
The reconstruction and expansion of the nearby Katy Freeway (I-10
West) is now nearing completion. When complete, the Katy Freeway
will be a model freeway corridor by combining traditional lanes, High
Occupancy Vehicle lanes and toll road lanes. The Westpark Tollway is
currently being planned to extend westward from the Grand Parkway
to just west of FM 1463. This tollway, coupled with the widening of
FM 1093 to four lanes, results in an eight-lane corridor that greatly
improves mobility for the area’s residents by creating a new east-west
corridor with access to Highway 6, Sam Houston Tollway (Beltway 8),
US 59 and the Galleria area.
Shopping is nearby and plentiful at the Katy Mills Mall, Cinco Ranch,
other area centers and future shopping sites. Medical care is available
at three area hospitals; Memorial Hermann Katy, Christus St. Catherine
and Texas Children’s Katy. The residential areas of Tamarron Lakes
are located within Lamar Consolidated Independent School District.
Tamarron Lakes and the surrounding area is greater Houston’s
strongest single-family residential market and the vast majority of this
housing is located within the area’s numerous and very successful
master planned communities. Homes in this market generally sell
for higher prices and with greater velocity than any other single family
market in the Houston area.
A 24-acre commercial component is planned for the western boundary
of the development.
This commercial area will bring retailers and
office sites to the community. Additional acreage is planned for an
elementary school and a daycare facility.
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
LAND ADVISORS ORGANIZATION
A 747± Acre Master Planned Community
Development Plan:
- Provide a location, amenity and lot price advantage to builders in the fast growing Katy-Fulshear corridor.
- Planned as a 1,695 home community located on the west side of FM 1463, Tamarron Lakes is bounded by Firethorne
to the north and Cross Creek Ranch to the south.
- More than $80 million is expected to be spent to develop Tamarron Lakes over the five to seven year build out.
- 100 acres devoted to hiking trails, parks, green belts and lakes will provide outdoor recreational amenities for residents
of the community.
- A 24-acre commercial component has been set aside on the western boundary of the project. Scheduled for the
second phase of development, commercial sites will bring retailers and office sites to the community.
- Fifteen Acres is set aside for a new elementary school and an adjoining three acres is allocated for a daycare facility.
- Tamarron Lakes is ready for development and construction to begin. It is estimated that construction could begin
approximately 65 days after bids are let.
- Engineering for initial development is completed.
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
LAND ADVISORS ORGANIZATION
A 747± Acre Master Planned Community
Size: 747± Acres
Price: $25,771,500 / $34,500.00 per gross acre
School District: Lamar Consolidated ISD
Comments:
-- Fort Bend County MUD #182 in place with Legislative Road Powers
-- Located within the City of Fulshear ETJ
-- Preliminary plat has been approved
-- Development Agreement with the City of Fulshear is completed
-- 1,695 planned lots – 60’, 65’ and 75’
-- Waste water permit in place
-- Drainage easement in place
-- Agreement in place with adjacent land owners to share in cost of off-site drainage
-- Agreement in place with adjacent property owner to the south for shared cost of FM 1463
round-a-bout, entryway and entryway landscaping
-- Bond election has been held which authorized $85M in District bonds for water, sewer and drainage
-- Civil engineering for Phase I (four sections) and on & off site drainage is nearing completion.
-- Drainage study is complete
-- Water and waste water plant design is nearing completion
-- Club house design is 50% complete
-- MUD Board is in place
-- Ag lease in place
-- Gas and electric providers are planning their service
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
LAND ADVISORS ORGANIZATION
A 747± Acre Master Planned Community
MUD: Fort Bend County
MUD #182
Contacts:
Land Advisors Organization
Costello Engineering – Civil Engineering
Warren Wilke & Associates – Club House Design
10497 Town & Country Way
9990 Richmond Ave
5080 Spectrum Drive, Ste 105
Suite 820
Suite 45N
Addison, TX 75001
Houston, Texas 77024
Houston, Texas 77042
Attention: Warren Wilke
Attention:
Attention: Bill Zollman
972-991-9600
Kirk Laguarta, Agent/Land Specialist
713-783-7788
Cooper Design Works – Landscape Architects
Duane Heckmann, Agent/Land Specialist
8709 Brookhollow Drive
Kerry Gilbert & Associates – Planning
Rowlett, TX 75089
15810 Park Ten Place, Suite 160
Attention: Jim Cooper
Coats & Rose – Legal Council for MUD
Houston, TX 77084
972-412-9519
3 East Greenway Plaza
Attention: Kerry Gilbert
Suite 2000
281-579-0340
713-647-7800
Houston, Texas 77046
Steward Marketing – Marketing Consultant
25211 Grogan’s Mill Road Suite 225
Attention: Julianne Kugle
Dain – Roescher – Financial Advisor for MUD
The Woodlands, Texas 77380
713-653-7318
First City Tower, Ste 400
Attention: Sherri Morris
Houston, TX 77002
281-210-2452 x 614
Schreef & Stone – Corporate Legal
Attention: Jan Bartholomew
5956 Sherry Lane, Ste 1400
713-651-3342
Dallas, TX 75225
Attention: Kevin Flynn
214-706-4203
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
LAND ADVISORS ORGANIZATION
Metropolitan Living with Small Town Charm.
Amenities:
The Recreation Center and clubhouse will provide a focal point
for residents. The impressive stone exterior brings a Hill Country feel to the surroundings and will feature a porte-cochere
drive-in, drop-off area. Inside, the clubhouse is complete with
a fitness center, locker rooms and bathrooms. It also houses
an office and a multipurpose room with a kitchen and storage. Sitting areas offer relaxing views of the water park and
lake beyond. The outdoor areas of the center include:
-
Water Slide
NCAA Lap Pool
Tumble Buckets
Swim Channel
Splash Playground
Leisure Pool
Pavilion & Perimeter Shade Arbor
Recreation Center
The information contained herein from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the
reponsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal.
LAND ADVISORS ORGANIZATION
Tamarron Lakes
Fiesta Master Planned Community
Tamarron Lakes
Fiesta Master Planned Community
Tamarron Lakes
Fiesta Master Planned Community
Tamarron Lakes - With Road Powers
Summary of Assumptions and Investment Performance
PROJECT ASSUMPTIONS
Acquisition Date
Total Project Size (acres)
Sellable School Site (acres)
Sellable Commercial Land (acres)
Sellable Residential Lots
COST ASSUMPTIONS
ACQUISITION
10/1/07
747.0
15.5
25.2
Acquisition Price
Acquisition Price Per Acre
Lot Size Distribution
60-foot Lots
65-foot Lots
75-foot Lots
Aggregate
28,386,000
Per Lot
16,747
38,000
1,695
REVENUE ASSUMPTIONS
Starting Lot Price Per Front Foot
Lot Price Escalation Per Year
FINANCING ASSUMPTIONS
Land Loan to Cost
Construction Loan to Cost
Beginning Interest Rate
Interest Rate Step Every 6 Months
Interest Rate Cap
Interest Calculation Basis
Loan Fee
Release Price (% of Net Sales)
65%
75%
8.75%
0.25%
9.75%
ACT/360
1.00%
90%
CONSTRUCTION COST ASSUMPTIONS
$650
8.00%
Lots
856
345
494
1,695
Lot Sale Velocity
Phase 1
Phase 2
Phase 3
Phase 4
Phase 5
Phase 6
Phase 7
Total
Lots
275
305
325
350
325
115
0
1,695
Commercial Price Per SF
Commercial Site Exit Period
$2.50
6/1/11
School Site Price Per SF
School Site Exit Period
$1.75
6/1/09
Starting
Price
51% 39,000
20% 42,250
29% 48,750
100%
MUD Reimbursement Schedule
Year 1
Aggregate
-
Per Lot
-
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Year 11
Year 12
Year 13
Year 14
Year 15
Year 16
Total MUD Reimbursements
7,342,140
7,448,220
7,980,570
8,401,380
8,721,960
8,809,320
4,711,590
884,520
54,299,700
4,332
4,394
4,708
4,957
5,146
5,197
2,780
522
32,035
MUD Reimbursable Costs
Internal POD W-S-D
Internal POD Roads
Water, Waste Water and Storm Drainage
Roads
1463 Improvements
On Site Detention
Off Site Detention
Flewellen Creek Improvements
Water Plant
Waste Water Plant
Erosion Control
Engineering
Total MUD Reimbursable Costs
Aggregate
12,179,432
12,705,582
5,130,812
4,002,112
1,200,000
1,556,160
3,207,160
600,000
3,886,720
3,687,000
50,000
5,895,111
54,100,089
Per Lot
7,186
7,496
3,027
2,361
708
918
1,892
354
2,293
2,175
29
3,478
31,917
Land Planning
Platting
Legal
Marketing
HOA Shortfall
Amenity Center/ Landscaping
Contingency
Supervision
Park Fees
Taxes
Total Construction Costs
75,000
265,000
162,500
1,054,110
405,500
3,440,000
1,500,000
1,817,665
716,333
425,000
63,961,197
44
156
96
622
239
2,029
885
1,072
423
251
37,735
Construction Cost Distribution By Phase
Phase 1
Phase 2
Phase 3
23,142,869
3,529,299
8,607,519
36%
6%
13%
Phase 4
Phase 5
Phase 6
Phase 7
Total
7,348,311
10,445,724
10,887,475
63,961,197
11%
16%
17%
0%
100%
Sales Cost
Commissions
Closing Cost
Total Sales Cost
Total Costs (before financing cost)
847,175
338,870
1,186,045
93,533,242
500
200
700
55,182
Acquisition Cost
Construction Cost
Closing Costs & Commissions
Interest & Fees on Land Loan
Interest & Fees on Const. Loan
Total Costs
Aggregate
28,386,000
63,961,197
1,186,045
5,309,166
3,605,990
102,448,397
Per Lot
16,747
37,735
700
3,132
2,127
60,442
Land Loan Proceeds
Combined Const. Loan Proceeds
Total Loan Proceeds
Weighted LTC
21,901,858
51,564,924
73,466,781
71.71%
12,921
30,422
43,343
Total Equity
28,981,616
17,098
Equity Outlay Schedule
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Total Equity Outlay
Equity
CF After Debt
Outlay
Avail. as Equity
16,764,471
404,714
3,572,944
601,284
2,591,628
1,586,343
2,165,303
9,915,329
2,696,806
16,395,677
1,190,464
17,369,110
7,125,673
8,809,320
28,981,616
INVESTMENT RETURNS
Total Lot Sales Revenue
Commercial Sales Revenue
MUD Reimbursement Revenue
Closing Costs & Commissions
Acquisition Cost
Construction Costs
Financing Costs
LEVERED PROFIT
UNLEVERED IRR
LEVERED IRR
NET EQUITY MULTIPLE
Aggregate
87,065,335
5,619,726
54,299,700
(1,186,045)
(28,386,000)
(63,961,197)
(8,915,155)
44,536,364
19.78%
26.04%
2.16
Per Lot
51,366
3,315
32,035
(700)
(16,747)
(37,735)
(5,260)
26,275
Net
Equity
16,618,295
2,713,122
1,005,285
290,179
20,626,881
APPROVED BY THE TEXAS REAL ESTATE COMMISSION FOR VOLUNTARY USE
Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
INFORMATION ABOUT BROKERAGE SERVICES:
Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or
a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents
the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law
to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement,
or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent
can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not
want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s
agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.
IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The
broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold
or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate
License Act. A broker who acts as an intermediary in a transaction:
1.
2.
3.
4.
Shall treat all parties honestly;
May not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;
May not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and
May not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose
the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.
With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated
with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate
with and carry out instructions of the other party.
If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The
agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a
broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those
questions before proceeding.
Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.
___________________________________________________________________________________________________________________________________________________________________
Buyer, Seller, Landlord or Tenant Date
Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee,
you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960. EQUAL HOUSING OPPORTUNITY. 01A TREC No. OP-K
EQUAL HOUSING
OPPORTUNITY