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Developers pitch La Luna Fields subdivision and request PID financing for roads, utilities and park
Summary
Developers of the proposed La Luna Fields subdivision presented a plan for roughly 308 acres north of Leander and said a public improvement district (PID) would be needed to finance roughly $19–$24 million in infrastructure; city staff and councilors asked questions about road extensions, disclosure and long-term impacts.
Developers and their bond underwriters presented the La Luna Fields master plan to the Leander City Council on July 1 and said a public improvement district would be required to make the project financially viable.
The project team described La Luna Fields as a 308-acre development west of U.S. 183 off Baghdad Road that includes single-family lots, commercial space, an 11-acre park and space for a future emergency services fire station. “In order to make this plan work … we believe that the PID is necessary,” Brian Landry, civil engineer with KFM Engineering, told the council.
The developers said the PID would fund roads, water, sewer and drainage. Landry said initial PID bond proceeds would be about $15.8 million issued in 2026, with a trailing reimbursement of about $3.2 million at roughly 40% buildout — an approximate total PID package of $19 million intended to offset about $24 million in development costs. The developers said without a PID “this project is not gonna get off the ground.”
The presentation included two national homebuilders who would develop in the subdivision: Drees (homes the developers said would range roughly 3,500–5,100 square feet) and Toll Brothers (plans shown at 3,700–6,100 square feet). Price ranges discussed in the presentation began around $1 million, with model and option upgrades expected to push many homes above that base price.
Council members asked detailed questions about the road known in the city’s master transportation plan as Lakeline Boulevard. Developers said the PID budget currently includes three segments of roadway and that, in coordination with staff, they proposed extending Lakeline beyond the project’s immediate frontage — work developers said would be over and above their normal construction obligations and subject to a reimbursement agreement.
“We originally had … thought we’re gonna have to build the road next door. But … if we were able to get this PID, we would talk about extending the road all the way,” Kirk Wilson of Western Frontier Development said, describing the developer’s proposal to construct additional segments if a reimbursement agreement were in place.
FMS Bonds, the underwriting firm on the presentation, described how Texas PID financing works and addressed longstanding resident concerns about disclosure and annual assessments. Tripp Davenport of FMS Bonds said the firm requires clear homeowner disclosure and said the legislature has tightened procedures to help buyers understand maximum and annual assessments. “Homeowner disclosure is the biggest thing,” Davenport said. Robert Rivera of FMS Bonds added that the firm typically markets PID bonds to institutional investors and that underwriters and administrators build guardrails to limit investor and administrative risk.
Council members pressed developers on consumer protections and whether the city would retain leverage if problems arise. Developers said they train model-home sales staff on disclosure, expect to use a professional PID administrator for notices and customer service, and would propose a reimbursement agreement defining what the PID will pay for and when. The developers also said the proposed initial construction of Lakeline would be built as a two-lane roadway with later expansion anticipated as traffic and right-of-way demands increase.
No action was taken. Council did not vote on a PID formation or any financing at the July 1 briefing workshop; the presentation was introductory and framed as outreach to council and staff.
What happens next: developers said they anticipate amending the preliminary plat and preparing construction documents over the next six months, with a target groundbreaking of January 2026 if the PID and related approvals proceed on schedule.
Ending: Council members and staff asked for more specifics on the reimbursement agreement, who would own which road segments and more outreach plans. Developers said they plan further coordination with city staff, the fire chief on station siting, and community stakeholders before returning with formal requests.
