February 26, 2024
KERRVILLE – The city has been negotiating terms with Miami-based Lennar for an agreement governing incentives for a development called “Windridge,” which will deliver about 500 new homes in the area.
The Kerrville City Council has voted to annex over 200 acres for the development and form a tax-increment reinvestment zone in a 100-acre area where the homes will be built.
Minimum lot sizes will likely be set at 35 ft, and the current maximum cap on home prices is $275,000. The deal will also likely include nearly $33 million in infrastructure costs to be paid by Lennar.
Lennar is also poised to secure $5 million in incentives from the city’s Economic Improvement Corporation to further help offset the cost of infrastructure to the development.
Kerrville has projected the community to bring in a total $17.9 million in tax revenue from 2026 and 2054.