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Riverway project to bring more than 1,800 homes to Waco

Posted at 12:54 PM, Jun 14, 2024

WACO, Texas (KXXV) — In a few years, hundreds of acres near downtown Waco will be filled with homes. The location is right in between North Martin Luther King Jr. Boulevard and Old Steinbeck Road.

  • The $130 million project along Lake Shore Drive will bring in 1,887 homes. With 1,192 homes and 695 multifamily homes right along the Brazos River, at a premium price.
  • Shopping centers, public trails, park space, and a marina are also in the riverway plan.
  • The project is already underway and is expected to take between 10 to 20 years to complete.

BROADCAST TRANSCRIPT:

521 acres of grassy land near downtown Waco will soon be turned into a place for families to grow.

“It’s designed down to where the sidewalks are, where the streets are, how many houses will be there. So it is by far one of the biggest ones we’ve seen in Waco, and we’re really excited about it,” Jeremy Pesina said.

Pesina, the Assistant Director of Economic Development with the City of Waco, tells me when Caldwell developers found Waco, they saw it as the ideal location right in between two major cities.

“In the age of the remote worker, they want to build homes where people will want to come and buy and live and travel up to Austin or Dallas and work,” Pesina said.

The $130 million project along Lake Shore Drive will bring in close to 2,000 housing units. With 1192 homes and 695 multi family homes right along the Brazos River, at a premium price.

“Offering some houses at the price range will free up some of the housing stock that others need and so it’s a little bit of both. And in that strategic plan, it told us we need a little bit of everything. And one of the values from that plan was we need quality homes developed in the city core,” Pesina said.

Shopping centers, public trails, park space, and a marina are also in the riverway plan. But with more attractions and homes, some wonder if our first responders and schools can handle the growth.

“It’s not 1,800 students hitting in one year. It’s going to be incremental growth, and then as the students grow, so will their ability to bond and their tax values will go up, so they’ll receive more financial aid that they’re used to. And so change is always scary, but it’s something that we plan on being closely involved with,” Pesina said.


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