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Fielding Group reports progress on Coast development; construction, college tract and hospital sites advancing
Summary
The Fielding Group updated the board on infrastructure, lot counts and reimbursements for the Coast development project, saying multiple phases are under construction and that a $77 million reimbursement cap governs the TIF-funded work.
The Fielding Group presented a semiannual project status report to the Tax Increment Reinvestment Zone board on the Coast development project, summarizing completed infrastructure, current construction and near-term submittals.
The presentation matters because the project relies on tax-increment reimbursement and public approvals; the board must certify completed work before the developer can seek reimbursement and the project affects school, health-care and housing capacity in Laredo.
Dory, a Fielding Group project representative, said the large Coast tract includes a 16-acre parcel purchased for an apartment complex and a separate 12-acre parcel the presentation identified as the site purchased by Clear Choice Hospital late last year. Dory said a small (under 2-acre) tract will be deeded to Laredo College; that tract is “complete for all practical purposes,” with final city approval and roughly $4,000,000 in infrastructure costs already spent.
Dory gave a phase-by-phase status update. The developer reported: - A 50-lot single-family subdivision is fully platted and infrastructure-complete; the developer spent about $300,000 on platting work to move utility lines and certify lots. - Phase 3 is complete and will be submitted to the city engineer for final certification; the developer described just over $1,200,000 in construction costs for that phase and noted material and sewer-line work as major expenditures. - A designated Phase 4B was under construction with paving expected to begin within 10–15 days and homes already going vertical; the plat for that area recorded the day of the presentation. - Phase 7C is under construction and includes a lift station that will extend sewer service to an additional 200–300 acres, enabling future development. - The developer has submitted preliminary plats for Phase 6 and Phase 8 (each described as “about a hundred and something” lots) and expects to file at the city’s one-stop shop by month’s end; the developer said it hopes to start construction on those phases within six months.
Dory said the project team wants to ramp to roughly 300 lots per year but acknowledged the buildout has been slower than originally forecast; the project was described as beginning in 2022 and encountering permitting and construction scheduling delays. Dory told the board the work to date represents about $13,000,000 in construction activity and that the tax-increment reimbursement program is capped at $77,000,000.
On amenities and ancillary development, Dory reported a two-mile hike-and-bike trail will go to bid within about 60 days, fiber-optic service will be provided to residential and commercial parcels, and the developer is evaluating a town-center commercial area and possible hotel space tied to future highway improvements. The presentation also discussed prospective collaborations with Clear Choice Hospital and Laredo College: the college-site tract will be deeded to Laredo College in the next 30–40 days, and the college is exploring a local hub for nursing instruction that could use Clear Choice for clinical hours once the hospital is operational.
Board members asked about tariffs, rising material costs and how price increases affect the developer’s budget; Dory said construction costs are rising but reiterated the $77 million reimbursement cap and that builders are committed to proceed. Board members also asked about CC&Rs, minimum home sizes and HOA oversight; the developer said each phase will have covenants and an architectural control process to approve materials, minimum square footage ranges and exterior designs.
The developer said the presentation and the project-reimbursement spreadsheet will be updated on an ongoing basis and that final reimbursement submittals require an engineer’s signoff certifying the work was built to plan and all bills are paid. Dory said the team will return to the board with progress at future semiannual updates.
Votes at a glance: the meeting approved the July 2024 minutes earlier in the agenda and later adjourned the meeting by voice vote (see the separate procedural actions record).
