Summary of meeting with representatives of Newland on April 19th:
Attendees:
Newland Communities
Ted Nelson, Regional President
Alan Bauer, Sr. VP, Division Mgr
Jennifer Taylor, VP, Sales
Steve Rech, Attorney, Schwartz, Junell, Greenberg & Oathout, L.L.P.
New Regional Planning
Blake Tartt, III
Cinco SW residents
Chad Hagan
Jon Prather
The following does not represent the exact order of the conversation but is intended to reflect the general nature of the discussion as it relates to the proposed use of the land located at the intersection of Spring Green and Cinco Ranch Blvd in the SpringLake area of Cinco SW.
Following introductions Mr. Nelson discussed some of the history in developing the Cinco Ranch community:
Mr. Nelson communicated his long history and commitment to developing Cinco Ranch that dates back from American General, Terrabrook to Newland today.
He expressed his and Blake Tartt’s discerning eye as it relates to potential suitors to purchase property and development in the community in an effort to maintain the historical integrity.
Chad Hagan reinforced our community view that we are all appreciative of the fantastic job Newland has done in developing the Cinco Ranch Project. This a key reason we bought or built in this specific community and care about the proposed future development of the available properties located in the community. Newland has been a historically good partner respective to land development and long term vision. This a reason for the community outpouring of opposition to the proposed sale of land for development of a multi-family complex and sincere interest in maintaining the integrity of the Cinco Ranch development.
Mr. Nelson communicated that residents that built in the area signed documents of disclosure in their closing documents regarding commercial property understanding. This was countered with discussion areount the representations made by Newland, Simply Cinco, Builder Representatives and real estate professionals.
Newland communicated that in their contracts with the builders in the community, each builder signs away indemnification by Newland related to representations made by Newland to the builders and real estate representatives.
Resident perspective of representation of proposed use of land as illustrated on maps distributed by builders and supplied by Newland…the maps mislead potential homebuyers/homebuilders by differentiating by color and lableing commercial use and multi-family for proposed available property.
Newland represented that the definition of “commercial” use could and can always mean retail, office, professional, restaurant and mulit-family. This was addressed from a buyers perspective by Chad Hagan as a misrepresentation by Newland.
Central Intended Use of the Land (C-5 located on the SW corner of Spring Green and Cinco Ranch):
The property known as tract C-5 is currently being marketed for a varity of uses at $10/ft;
Approximately 7.9 acres at $3.4M
Land will more than likely only support a complex in the 200 unit range
Proposed multi-family tenant amenities will be hosted within the proposed complex
Multi-family tenants would have access to the lake, but not community amenities
Proposed development more than likely would only support a comples of approximately 200 units
Single car garages tied to each unit
Multi-family amenities would be centralized on the intterior of the property
We asked if the architectural design or blueprints were available and advised they were not
At the moment, according to Mr. Nelson, there are discussions under way with a targeted and interested buyer on a “Letter of Intent”, but NO contract has been signed at this time.
Consistent with previous communications, Newland represents that this project is intended for a “high end, boutique” style mulit-family development .
Alternative Uses of C-5 Tract
Newland discussed the pros and cons of restaurant related options along with success and failure rates of stand alone establishments
Discussed the current retail market conditions
Discussed the delicate balance in determining appropriate use of the land in question and consistency of Cinco development mission
Proposed to Mr. Nelson the concept of a residential purchase of the 7.9 acres for use and development of community parks; this was not favorably met without a more formalized commitment and financial plan that is viable for all parties.
It should be noted here that in specific discussions with Andy Meryer (Ft. Bend County Commissioner of Pct. 3). Andy offered that if the residents do purchase the land that the county would build and mantain parks for use.
We expressed our hope and intention that we could assist in an amicable solution to the propsed development and asked that Newland engage us in other solutions that may arise.
Other Developments
Newland communicated that additional land has been purchased to continue development of Cinco SW (approximately 440 acres)
As previously communicated, the area development around the intersection of Spring Green and Cinco Ranch:
SE Corner- CVS Pharmacy is expected
NE Corner- McDonalds and approximately 16,000 sq ft or retail
NW Corner-ideal from Newland’s position is the development of an Assisted Living Facility; this is simply a thought at this time.
Newland and it’s representatives continue to work to bring Kroger and Academy into the general area
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Newland was reminided of the inforce Preseervation Obligation request and specifically addressed and emailed reminders of documentatino retnetion policies.
Newland has communicated new and revised maps and disclaimer language regarding “commercial:”
In Closing
Pleaser refrain from incorrect information and rumors from being communicated to the masses.
Related to the petition of oppostion; please note that to date we have 707 signed petitions, but only 536 authenticaed by follow up email…we will be sending a friendly reminder email in order to confirm your signature.
Thank you for you support and interest.
