25 Apr 08 Home Builder backs out on Central Texas Master Planned Community

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The Statesman.com has reported Centex Homes has backed out on a $275 million master-planned community. The new subdivision was to be home to 1,400 new houses, but according to Centex’s director of strategic and operational marketing, Tara Thomason, their decision to back out of purchasing 465 acres from the Pearson family ranch is due to a larger strategic review of the company nationally.

Centex is currently building in 16 Central Texas developments and their latest plans to back out of this purchase may not allow them the opportunity to pursue this venture in the future. One of the owner’s husbands has stated in regards to Centex’s statement, “we’ve had it for half a century; we don’t need to sell it, don’t want to sell it, so it’s fine.”

Read more into this latest development by clicking here.

Tags: centex homes, central texas, master planned community, pearson family ranch, tara thomason, the stateman