Plats being developed for Gregg Ranch community at 281/71 intersection
Gregg Ranch, which will be located near the intersection of US 281 and Texas 71, will be the largest master planned development in Marble Falls with 700 homes on more than 240 acres when completed.
By Lew K. Cohn
The Highlander
Managing Editor
Plans are progressing for the construction by Gregg Ranch, a master-planned development that will be located along the U.S. Highway 281 and Texas Highway 71 corridor and could prove to be the largest planned community in Marble Falls, the president and CEO of the development’s parent company said Thursday.
“We are processing preliminary plats as we speak and getting ready to take the development to market,” said Craig Krumwiede of Scottsdale, Arizona, based Harvard Investments, Inc. “Everything is proceeding great on the project. The City of Marble Falls has been great to work with and so encouraging. We are very excited to be a part of the community.
“We have a fantastic location and there is such a huge need for affordable housing there in Marble Falls. When completed, Gregg Ranch should be a wonderful place to live for our residents.”
The plan for Gregg Ranch is to build 700 homes on more than 240 acres in several phases. Home prices will start at under $300,000 and construction is expected to begin in early 2017, with homes ready for move-in by residents by the end of 2017 or beginning of 2018. When completed, the development will be the largest planned community in Marble Falls in terms of acreage and number of homes.
The location, which is just south of the US 281 and Texas 71 intersection, was chosen due to its proximity with the new Baylor Scott & White Hospital on Texas 71 as well as the Specialty Clinic next door, Krumwiede said.
“When we were investigating buying this property, we interviewed a lot of people at hospital and talked to employees who were working there and found out where they are currently located,” Krumwiede said. “A great majority of the employees commute from a significant distance away. In working with the economic development folks at Marble Falls, they indicated that there are a lot of people commuting to jobs in Marble Falls who are not able to find places to live that are within their price range.
“There is a great need in the marketplace for housing, especially new home products, which are under $300,000, according to the market research. We are excited about the opportunity to step out to the highway intersection with our development, which gives us a lot of flexibility. Our residents will be able to have an easy commute to the hospital or into town if they work in Marble Falls.”
The Marble Falls Economic Development Corporation has found that of a workforce of 8,000 employees, more than 90 percent of those who work in Marble Falls must live outside the city due to a critical housing shortage.
“As the local economy continues to flourish, and companies such as Baylor Scott & White bring their businesses to town, Marble Falls needs residential communities such as Gregg Ranch to provide quality, affordable housing to its employees and residents,” said Christian Fletcher, executive director of the Marble Falls Economic Development Corporation. “We want our citizens to be able to live where they work.”
One selling point of the Gregg Ranch development will be an amenity center, featuring a swimming pool, playground, barbecue grills, ball fields, and dog park. Walking, running and bike trails will also be designed along a green belt path.
Marble Falls annexed the property into the city limits in May 2015.
