New Residential Development Planned in Annaville Area for Potential Steel Dynamics Plant Employees
City Will Help Cover Costs of Off-Site Storm Water Infrastructure
CORPUS CHRISTI, TX – At today’s regularly scheduled City Council meeting, Mayor Paulette M. Guajardo and the City Council approved a developer participation agreement with MPM Development, LP, for off-site storm water improvements in conjunction with Royal Oak Future Units, a residential subdivision located on Rand Morgan Road, south of Leopard Street.
As part of an economic development initiative to incentivize residential home development in areas near the Steel Dynamics Plant in nearby Sinton, Texas, the City has agreed to participate in the construction costs associated with the storm water improvements required for the new subdivision. The project, located approximately 17 miles from Steel Dynamics, will provide additional workforce housing. The $1.9 billion steel plant in Sinton will employ around 600 people.
The 55.24-acre development, located on Rand Morgan Road, south of Leopard Street, will include 218 single-family homes and 9.5 acres of commercial development. The storm water improvements will enable stormwater runoff to drain into an underground drainage pipe to the McNorton Reach 4 Drainage Channel.
The estimated total project cost of the stormwater drainage improvements is $2,443,071.65. City participation will be $867,649.76 and is funded by Bonds from 2012, 2016, and 2018.
“We are grateful to MPM Development, LP for their partnership in this economic development strategy to help increase workforce housing in the Calallen and Annaville areas of Corpus Christi,” said Mayor Paulette Guajardo “These 218 houses will serve as homes to hardworking families in our city.”