New master-planned development The Crossvine is likely to keep San Antonio in a building mode for the next 10 years. Chris Price, president of developer Schertz 1518 Ltd., brings extensive experience in mixed- and master-planned developments.
The development actually started in 2006 as Sedona Trails but was killed by the financial crisis after only 170 lots were developed. Schertz 1518 Ltd. purchased the property more than a year ago and has since been working with the city to redesign the neighborhood’s plan. The city created a TIRZ (Tax Increment Reinvestment Zone) for the newly planned area, which means that the public improvements fund will grow with any increase in property values.
The project will be built on 504 acres near FM 1518 and Lower Seguin Road and encompasses single-family homes, commercial sites and 12 miles of hike and bike trails. Home prices are expected to start at around $250,000, and the developers anticipate that the model home will be available for tours soon after the New Year. The Crossvine has an extensive team behind it: Schertz 1518 Ltd. as developer, Malone & Wheeler Inc. providing engineering, Marsh & Associates as the architect, Planned Environments Inc. for land planning and landscape architecture, and lookthinkmake providing branding, PR and marketing.
John Kessel, Schertz city manager, told the San Antonio Express-News that “in recent years, we’re seeing a trend where you have large national builders who act as both the developer and the builder. We’re seeing a return to the traditional model with this project. It’s less of the mass-produced product. Now you can have two and three builders in the same neighborhood. It creates variety and accountability. The variety you get translates into a more interesting neighborhood. It’s an organic development. Over time, it’s a unique look.”
Photo courtesy of The Crossvine Facebook Page