Laredo-based Killam Companies has acquired 3,400 acres of land in South Mission and McAllen, stretching from the area around the Anzalduas International Bridge to the Sharyland region to areas in between, the company announced on Friday.
The property, which includes a lot of farmland, will be developed into neighborhoods, with homes starting at $140,000, parks, walking and biking trails, education opportunities for children and commercial and entertainment districts. In the swaths of land surrounding the Anzalduas bridge, Cliffe Killam, a partner at the company, said there will be industrial warehouses and other cross-border trade related opportunities for businesses.
The details of the project are not certain — Killam said at Friday’s announcement at the Mission economic development building that there will be public workshops so the company can receive feedback from the community on ideas for the land.
“There’s more land to be developed than has been developed,” Michael J. Blum, a longtime South Texas real estate broker, said after the announcement.
This new swath of land is the largest development in the area since Tres Lagos broke ground in 2016. The 2,500-acre community in North McAllen features residential areas, an IDEA school and a Texas A&M University campus, among many other projects. Tres Lagos still has at least another 20 years of development, and the Texas Department of Transportation is helping to repair, widen, and install new roads to help the large traffic flows that will likely head in that direction.
Some similar development can be expected at the Killam property, Blum said, but that this is a different project.
Killam bought the property from the Hunt family, which owned the property since the 1970s, and over the last 20 years began the development of Sharyland Plantation.
“The Hunt family have a long and proud history here,” Killam said. “We re honored and humbled to work with and learn from them throughout this process.”
Paul Curtin, vice president the Hunt family’s company, Hunt Valley Development, was on hand at Friday’s announcement.
“We don’t normally sell land,” Curtin said. “Selling land is a complicated thing for our company, and you have to find the right buyer.”