Housing developers in Magnolia have begun to see enough economic growth to once again begin building homes. Even as one developer backs out of a project, Magnolia Ridge and a possible apartment complex are two of the possible up and coming communities.

Plans for the Magnolia Ridge subdivision began in 2005. But funding issues and developer changes stalled construction. It wasn’t until this fall that Compass Pointe Homes began building homes in the neighborhood. October marked the realtor grand opening. Now, four homes are listed for sale with several lots marked available as well.

Pictured are the beginning homes of Magnolia Ridge. After several years of delays, Magnolia Ridge is finally seeing new homes hit the market.

“People have been cautious (about buying homes). Next year will be a very steady year,” Marketing Director Colleen Uriarte said. “We are turning a corner; Magnolia Ridge is a ‘diamond in the rough.’”

Compass Pointe Sales Counselor Jo Tavares said the first resident closed on their home and moved in on Dec. 23.

Meanwhile, David Koogler, developer of the Magnolia Trails senior facility that has been approved by the city, approached the city’s Planning Commission on Dec. 21. Koogler said he is interested in building low-to-moderate income single family apartments.

The apartments would be one, two and three bedrooms which would make up a total of 80 units with garages, swimming pool and clubhouse. The complex is proposed to be located along Nichols Sawmill.

“There is not much built out here,” Koogler said.

Koogler aims to use tax credits provided through Texas Department of Housing and Community Affairs in order to provide lower rent to potential residents.

A preliminary market study shows a demand for this type of housing, but after the application process to the city Koogler plans to perform a full market study.

Koogler has built similar facilities in Virginia. However, the concept for these apartments in Magnolia is still in the beginning stages, he added.

Another developer had approached City Manager Paul Mendes regarding a proposal for a gated community with 36 single family homes, but reconsidered based on what he perceived to be low demand for homes in the area.

Mendes said the housing development will bring population, which would improve business, creating a cycle in which businesses will want to service the growing population.

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