MCLENNAN COUNTY, Texas (KXXV) — “That area is definitely in the path of growth, and it's anticipated that over the next five to 10 years. There are going to be tons of housing units added to that area,” Haus Realty’s Cory Duncan said.
Plans are being made to add 2,000 new homes near Lake Waco. It's two separate developments, one with 700 homes and another with 1,300.
“Lake Waco has been kind of a boundary line for development, because the infrastructure isn't there,” Duncan said.
In February 2024, the city signed a deal with Speegleville Land Holdings to finance more than $24 million in infrastructure.
“And to participate in the total cost of oversizing of improvements, increasing capacity to water and sanitary sewer improvements required by the city for SLH development of the property since they are necessary to provide adequate capacity for existing and future development,” according to the Waco City Council meeting.
More than $12 M is set aside for water upgrades and more than $11 M to wastewater improvements.
The improvements will provide resources to around 221 acres located around two miles north of Highway 84 and east of Speegleville Road.
“These developments would be in Midway ISD as well, which is highly sought after, brings more demand to the area, and is attractive to Waco and Waco area buyers,” Duncan said.
Midway ISD told 25 News it doesn’t expect to add students from those houses until construction begins.
In a statement, the district reviews demographic reports every two years to keep up with residential and commercial developments in the district.
“Because Midway ISD is a preferred district of choice in the area and we experience steady growth, we always evaluate the need for potential facilities. We are currently completing a facilities needs assessment. Soon after the start of the year, we will evaluate how that will fold into our current and potential facility needs,” Midway ISD’s Emily Parks said.
“Demand for new housing units in Waco is there because of that, job growth and income growth, population growth in the city,” Duncan said.
