A Kenedy, TX, Eagle Ford Shale housing development is on its way. A San Antonio based company is has acquired 166 acres where the new “Kenedy Station” residential and commercial development will be started later in 2011. The master plan for the community will add a combination of 500 homes and apartments to the area. Those homes should be in high demand as most oilfield workers are forced to commute from other towns or have to stay in hotels for months at a time.
A 10-plex apartment complex and 5-6 homes will be constructed later in the year. The first phase of development will include up to 17 homes. Hotels and RV parks continue to boom and expectations are for more permanent housing to be constructed as oilfield workers plant roots in what is expected to be a multi-decade development.
A San Antonio-area developer has purchased 166 acres in Kenedy for a project to help fill the desperate need for housing for oil field workers in the Eagle Ford shale.
Kenedy Station, a residential and commercial development, should break ground late this year. Although it will be built in phases, plans ultimately call for 260 home sites and 240 apartment units.
Kevin Brown, Abrego Development Co. president, said he was approached more than three years ago by the Karnes County Economic and Community Development Corp. about the need for more housing in the area. And that was before the oil boom.
The project is part of a Tax Increment Reinvestment Zone. Developers pay for public infrastructure up front but are paid back over time as property values increase.
Read the full news article at chron.com