Development financing of $12.7 million for phase one of Owen Holdings Inc.’s new 454-acre mixed-use community, Parmer Ranch, was secured by Trez Capital. The project’s first phase will include 155 single-family residential lots as well as the master infrastructure for the community.

“We are excited to play a key role in bringing more homes to Georgetown, one of many rapidly growing suburbs just north of Austin,” said Grant Morrow, vice president at Trez Capital. “Georgetown’s population has soared by 67.6 percent from 2010 to 2019. Couple this with the soaring demand for housing right now, this is the ideal time to develop this large mixed-use community as more builders are looking for completed lots which are increasingly in limited supply.”

Parmer Ranch is located 15 minutes northwest of downtown Georgetown at the intersection of Ronald Reagan Boulevard and Williams Drive (FM 2338). Upon completion, Parmer Ranch will have more than 1,000 single-family homes, 100 acres of mixed-use space including multifamily, retail, office and medical, a 4.5-acre community center, and two new schools as well as 47 acres of open space. The development will also provide access to employment centers including the new Apple campus. The first homes are scheduled for move-in by summer 2021.