Developer reports housing, infrastructure progress on Coast development; Clear Choice hospital parcel conveyed

A developer representative gave a semiannual status report to the Laredo board on the Coast development project, describing land conveyances, homebuilding progress across multiple phases, infrastructure work tied to Loop 20 access, and next steps for reimbursement and accounting.

The presenter said the college parcel and a site purchased for Clear Choice (a hospital/medical development) have been conveyed to their respective owners, and the developer has transferred another parcel to an apartment developer. The presenter reported that, on the initial 50-lot pod, about 30 homes are fully built; 44 homes are under construction; 21 have been sold; and 18 are under contract. He said the first homes in the development are selling in the $400,000–$500,000 range, higher than earlier pro forma figures of about $265,000–$275,000, and that later phases will include smaller homes priced roughly $300,000–$400,000.

Why it matters: the project covers hundreds of residential lots, multiple commercial tracts and a planned hospital site that the presenter said could “be kind of a game changer for the medical industry in Laredo.” Progress on roadway and utility work tied to Loop…