By Ryan Durzin
The city of Midland’s Planning and Zoning Commission approved three new phases of projects that will add more than 250 new homes to Midland’s burgeoning housing market within the next year, according to the developers.
D.R. Horton gained approval for a final plat of its Adobe Meadows Addition in the north and a zone change for their Legacy Addition development in the west. Combined, the two developments had more than 200 homes approved by the planning and zoning session.
The homes are being built at a time when Midlanders are experiencing skyrocketing rents and home prices. The median home price in Midland for July was $247,900, a 7.1 percent increase year-over-year from July 2013. Since July 2009, when home prices slumped due to the Great Recession, home prices for July have increased by 48.2 percent.
“D.R. Horton wouldn’t be doing two developments at the same time if they didn’t think that this was a market they could be in and do well in,” said Eric West, a civil engineer for Parkhill, Smith & Cooper working with D.R. Horton. “Certainly, we think that both of these neighborhoods are going to be neighborhoods that will serve the community well.”
According to West, the Adobe Addition is already moving into the second stage of building, while the Legacy Addition broke ground on its infrastructure in the spring. West said house construction will begin in the next few months. He said he expects Legacy to be completed sometime in the next two years.
The other development approved Monday was a zone change for the second phase of Daybreak Estates. The zone change of a 24-acre plot of land to the east of phase one of Daybreak Estates will make way for a second phase of 60-70 homes, according to Andrew Mellen of Midland’s Maverick Engineering.
Mellen said that phase one laid out 167 lots, four of which have been built and more than 40 have been sold. In all the project has four stages and when it is completed will have more than 500 homes.
Mellen did not want to guess when the development would be completed, but he said the first phase broke ground in the summer of 2013 and that phase two won’t start until December or January.