The State of Central Texas Master Planned Communities

Market Trends, Growth Drivers And Development Insights

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  Adil Noorani

  Adil ensures Hines provides tenants and investor partners with cutting edge, best-in-class services and products across the globe. He oversees various Management Services platforms designed to enhance tenant experience and generate higher returns for investors. These platforms include property and facility management, engineering, residential operations including Willowick Residential, Hines’ multifamily property management arm, and the Client Relationship and Experience Management platform. Adil also chairs the firm’s Operations and Management Committee. In his previous role as Chief Operating Officer of the firm's Southwest Region, Adil managed all regional operating functions and assisted the development teams with their strategic and organizational needs. The role included oversight of the region’s property management, accounting, asset management, acquisitions, and regional marketing. Additionally, he helped the regional CEO operationalize strategic goals, maintain appropriate staffing, assess risk, and assist in other areas as appropriate. Adil holds a Bachelor of Business Administration in Accounting from University of Texas at Austin and a Master of Business Administration from the University of Houston.

  Hines

  SVP

  Adil Noorani

  SVP

  Hines

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  Nancy Stroder

  VP, Land Acquisition

  Taylor Morrison

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  Clark Wilson

  Chairman

  Clark Wilson Builder

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  Ben Rhoden

  Ben is the Executive Vice President of Maverick Water Group and is involved in all areas of the business including business development, investment underwriting, strategy, financial planning, and corporate governance. Prior to joining Maverick, Ben was an Associate for an upstream Oil & Gas company with assets in the Gulf of Mexico based in Houston, where he was involved in a wide variety of mergers and acquisitions, financial planning, corporate strategy, and operational excellence projects. Ben graduated with honors from Texas A&M University with a M.S. in Finance and a B.B.A. in Accounting, and he is a licensed CPA in the State of Texas.”

  Maverick Water Group

  Executive Vice President

  Ben Rhoden

  Executive Vice President

  Maverick Water Group

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  Michael Libera

  Michael Libera, an investment banker specializing in real estate and municipal finance, began his career at Piper Jaffray and held roles at Jefferies and RBC Capital Markets. Since 2020, he has been Managing Director at SAMCO Capital Markets, executing a wide range of transactions, including governmental financings, tax increment financings, land-secured debt, and real estate deals. Known for financial innovation, Mr. Libera pioneered products like the Texas Infrastructure Program (TIP), Development Mortgage-Backed Securities (DMBS), Utah HOA Assessment Bonds, and Municipal Contingent Value Instruments (CVI). TIP bonds were the first securities offered publicly, secured solely by MUD reimbursements. He holds a BBA in Finance from Saint Louis University and FINRA Series 7, 50, 52, 63, and 79 licenses.

  SAMCO Capital Markets

  Managing Director

  Michael Libera

  Managing Director

  SAMCO Capital Markets

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  Chris Crawford

  Chris Crawford is an industry leader in land planning and the development of large-scale master planned communities. As President of RVi Planning + Landscape Architecture, he brings nearly 40 years of experience shaping vibrant, connected communities across Central Texas and beyond. Chris has led the master planning for nationally recognized landmark communities such as Steiner Ranch, Sun City Texas, Anthem Las Vegas, Anthem Phoenix, Sun City Grand, Coyote Springs Nevada, and Aliante. His work emphasizes the integration of thoughtful land planning, landscape architecture, and placemaking to enhance livability, foster community connection, and support long-term value. A frequent speaker and Urban Land Institute contributor, Chris brings a unique perspective to the industry grounded in both practice and thought leadership. He has also contributed to the next generation of professionals as an adjunct professor at The University of Texas at Arlington and a guest lecturer at Texas A&M University, where he earned his degree in Landscape Architecture.

  RVi Planning + Landscape Architecture

  President

  Chris Crawford

  President

  RVi Planning + Landscape Architecture

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  Kristi Stotts

  Kristi E. Stotts is a shareholder in Winstead's Real Estate Development & Investments Practice Group. Kristi’s practice is focused on real estate development, with an emphasis on structuring and administering residential, mixed-use, and office condominiums, and residential and mixed-use communities. Kristi represents developers in their administration of property owner associations. Kristi also has experience in a variety of commercial real estate transactions including drafting acquisition and disposition contracts, easements, and license agreements.

  Winstead PC

  Shareholder

  Moderator

  Kristi Stotts

  Shareholder

  Winstead PC

Funding, Policy, and Market Forces

What’s Driving Master Planned Communities Today?

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  Mike McMillen

  Mike McMillen serves as Vice President of Land at Brookfield Residential Properties, where he oversees land acquisition and development strategy for the Central Texas region, encompassing the Austin and San Antonio markets. With more than three decades of experience in the real estate industry, McMillen brings deep expertise in land development, market analysis, and deal structuring. His proven track record includes consistently sourcing and executing high-value land transactions that exceed revenue targets while maintaining the highest standards of organizational integrity and operational excellence. Throughout his career, McMillen has demonstrated exceptional capability in navigating complex regulatory environments, building strategic partnerships, and delivering results that align with corporate objectives. His comprehensive understanding of the Central Texas market dynamics and development landscape positions him as a key strategic leader in Brookfield's continued expansion and success in the region.

  Brookfield Properties Development

  VP, Land

  Mike McMillen

  VP, Land

  Brookfield Properties Development

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  Rick Neff

  Rick Neff brings decades of expertise in land development and executive-level corporate real estate management to his role at Hunt. Over the course of his career, he has led or overseen the development of dozens of master-planned communities including more than 25,000 homesites and land and lot sales exceeding $1B across the Sun Belt consistently demonstrating the ability to deliver large-scale, high-impact and financially successful projects. Rick is known as a visionary builder blending natural beauty and amenities to create exceptional quality-of-life communities of enduring value. Earlier in his career, Rick assembled and managed a specialized team tasked with resolving and liquidating more than 400 distressed real estate assets nationwide on behalf of financial institutions. This experience honed his strategic and operational acumen, particularly in complex, high-stakes environments. Currently, Rick oversees the development of two master-planned communities encompassing over 7,000 residences in Central Texas. He also leads land acquisition efforts for future projects in Central Texas markets, continuing to shape the region’s growth with a focus on long-term value and community impact.

  Hunt Communities

  SVP, Southwest Community Development

  Rick Neff

  SVP, Southwest Community Development

  Hunt Communities

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  Paul Basaldua

  VersaTerra is a full-service land development firm that combines decades of experience with expertise and relationships to deliver impactful projects for its clients and property owners. Led by CEO Paul Basaldua, VersaTerra offers services spanning from concept and design work to engineering and construction, ensuring that our clients maximize the value of their projects. The firm’s promise to its clients is to invariably deliver the right solutions, no matter the challenge, using the bedrocks of VersaTerra: knowledge, skill and service. That promise is backed by Paul’s decades of experience overseeing all aspects of development operations for a portfolio of land development projects worth millions of dollars. Through his career, Paul has effectively delivered engineering and construction management on residential development projects while working closely with local municipalities to ensure the development team delivered the best and most efficient end product to their clients. Paul’s primary goal is to partner with clients and trade partners to build working relationships based on trust, accountability, sincerity, and added value. The VersaTerra team has deep roots in South Texas. It is the preeminent expert in navigating the complex and varied development requirements and business environments in more than a dozen municipalities in the greater San Antonio area and along the Interstate 35 corridor. A nimble land-development firm that concentrates its resources and efforts on both buying and developing land, VersaTerra also serves as fee-development consultants for other builders and developers, as well as joint-venture partners with property owners.

  VersaTerra Development

  President & CEO

  Paul Basaldua

  President & CEO

  VersaTerra Development

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  Patrick Bourne

  Patrick has more than 17 years’ experience working in the real estate and financial industries. He began his career working as an auditor with KPMG, focusing on real estate, government and commercial clients. Patrick’s expertise has involved identifying financing alternatives for the development of public infrastructure. Throughout his career he has overseen the structuring, creation and monetization of financing districts throughout the United States. These financing districts have included Public Improvement Districts (PIDs), Tax Increment Reinvestment Zones (TIRZ), Community Facilities Districts (CFD) and a variety of other districts as required to meet project needs. Patrick is experienced in leading training seminars and has written articles educating developers and public jurisdictions regarding the use and benefits of such districts. Patrick graduated from Brigham Young University with a Bachelor of Science degree in accounting, and obtained his CPA license.

  Sundance Analytics

  Principal

  Patrick Bourne

  Principal

  Sundance Analytics

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  Tripp Davenport

  Mr. Davenport has over 25 years’ experience in public finance covering government issuers in Texas. Over his career, Mr. Davenport has participated in financings totaling over $20 billion in long-term new money and bond refinancing transactions. Mr. Davenport originally served as bond counsel, representing mostly counties, cities and school districts; as well as underwriter's counsel representing national and regional investment banks. Prior to joining the public finance industry, Mr. Davenport was a legislative assistant to a Member of Congress, and an advisor to multiple Presidential campaigns. He also served as a field attorney for a presidential campaign in 2000 and 2004, in addition to being a campaign manager for multiple successful local candidates in Texas. In 2004, the Governor of the State of Texas appointed Mr. Davenport to serve as commissioner for the Texas Ethics Commission where he later served as Chairman, the youngest ever to serve at the time. He was reappointed by the Governor to serve a 2nd Term. In 2005, Davenport became an investment banker with a focus on challenging credits and land-secured financings. Mr. Davenport closed the first four special assessment transactions for residential master planned communities in Texas. Further, Mr. Davenport worked with a group of professionals that successfully revised the PID statute as it relates to Texas’ special assessment law and policies. Mr. Davenport has assisted multiple cities and counties with implementing "PID Policies." Since establishing his current firm’s office in 2015, FMS has been the number one special assessment underwriter in the State of Texas seven years in a row, with an 90% market share over that period. Mr. Davenport earned his B.A. from the University of Texas at Arlington; and a Doctor of Jurisprudence and M.A. of International Economics from St. Mary’s University as a “Distinguished Graduate.” Most important, Mr. Davenport is married to Sharla Metze Davenport and a proud father of three children: Jack Reagan Davenport (23), Margaret Addison Davenport (21), and Savannah Elizabeth Davenport (18). Mr. Davenport is a registered Municipal Securities Principal and hold Series 53, 7 & 63 licenses.

  FMSbonds

  Director, Investment Banking

  Tripp Davenport

  Director, Investment Banking

  FMSbonds

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  Steven Metcalfe

  Mr. Metcalfe has worked as a real estate attorney for 37 years. He is a named partner in the firm. Prior to this, he formed Metcalfe Williams after leaving Drenner & Golden Stuart Wolff, LLP (and its prior configurations) where he served as a partner for over 11 years and an associate for over 3 years. In addition, he spent 5 years with Johnson & Gibbs, in Dallas, Texas. Details of Practice General – Mr. Metcalfe represents owners and developers in all aspects of their real estate business, including site acquisition and development, selling projects, leasing, partnership and corporate formation, development planning, pre-construction, construction and permanent financing. He also represents tenants and landlords in various types of office, industrial and retail leases. He has worked on all types of real estate projects – single-family residential and master planned projects, retail shopping centers, office buildings, industrial projects, apartments, condominiums, hotels, and a variety of mixed use projects. Public Improvement Districts/Municipal Approvals – Mr. Metcalfe spends a significant portion of his time helping owner/developer clients create Public Improvement Districts (PIDs) – including the issuance of bonds therefore obtaining necessary municipal approvals or “entitlements” for their projects. In order to do so, he has an expertise in the municipal and county ordinances, as well as state and federal law, impacting property rights generally and, in particular, the PIDs and entitlements. His entitlement practice includes negotiation of incentive packages for developers and various public/private funding mechanisms. He has experience in creating PIDs, evaluating and obtaining entitlements, incentive packages and public/private funding mechanisms for projects in the City of Austin, as well as many other municipalities in central Texas and around the State. Professional Activities Real Estate Council of Austin, Former Board of Directors (Executive Committee) Former Congress for New Urbanism-Austin Chapter, Board of Directors Austin Bar Association State Bar of Texas, Real Estate Section

  Metcalfe Wolff Stuart & Williams, LLP

  Partner

  Steven Metcalfe

  Partner

  Metcalfe Wolff Stuart & Williams, LLP

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  David Nolan

  David Nolan, CPA, has 13 years of experience in public accounting. His core focus is on real estate developers, owner/operators, syndicators, and investment funds. David also has specialized experience in international, multistate, and opportunity zone planning and compliance matters. David earned a bachelor’s degree in business accounting from Texas A&M University and a master’s degree in accounting from Texas A&M University.

  Weaver

  Partner, Tax - Real Estate

  Moderator

  David Nolan

  Partner, Tax - Real Estate

  Weaver

Mastering the Mix

How Amenities, Placemaking And Mixed-Use Shape Successful Communities

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  Chip Mills

  A results-oriented leader with over 23 years of real estate development, economic development, land planning and development entitlement experience: Embodies a solid understanding and educated perspective of the components necessary to develop diverse and successful communities. Experienced in designing and facilitating development approvals for planned communities of 400 to 8,000 acres with build-out investments of $200 million to $5 billion. Accustomed to being the development lead, aligning feasible outcomes with expectations and leading a project team to achieve physical and financial goals

  Mills Design + Development

  Founder

  Chip Mills

  Founder

  Mills Design + Development

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  Vibhor Mehrotra

  CEO

  ARVO Ventures

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  Randy Rollo

  Originally from Houston, Randy accumulated extensive experience in the production homebuilding and executive management positions as a division president, regional president, and custom homebuilding positions for both public and private homebuilding companies in Austin. In 2012, he formed a land acquisition, entitlement, and development operation. Along with his partners, Randy has developed several residential communities in central Texas. With his tremendous passion for land, his role at Randolph Texas establishes corporate vision and direction and identifies development opportunities through his vast network of industry relationships. Randy and his wife Reenie have been married for 41 years. They have two sons, Grant and Will, who each hold key roles within Randolph Texas Development

  Randolph Texas Development

  President

  Randy Rollo

  President

  Randolph Texas Development

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  Carter Froelich

  Carter is the Managing Principal of Launch Development Finance Advisors. Prior to the founding of Launch, Carter was the co-founder and Managing Principal of a national real estate consulting firm for 27 years. Preceding this, Carter was a Manager in the real estate consulting department of the national accounting firm of Kenneth Leventhal & Company in both the Phoenix, Arizona, and Newport Beach, California offices. Carter is a Certified Public Accountant in Arizona, California, and Texas, as well as a former State Certified Real Estate Appraiser in Arizona. Carter holds a master’s degree in Real Estate Development from the University of Southern California and a bachelor’s degree in Business Economics from the University of California, Santa Barbara. Carter has over forty years of experience in the real estate consulting industry. Carter’s area of specialty is in the formulation and implementation of land-secured financings for large-scale developments and the formulation of development strategies for large-scale master-planned communities. Carter served as a City of Phoenix’s Camelback Village Planning Committee member. Carter is a full member of the Urban Land Institute, Valley Partnership, and is a member of numerous Building Industry Associations in Arizona, California, Idaho, and Texas. Carter was the author of the 2008 and 2016 National Association of Home Builders’ Impact Fee Handbook.

  Launch Development Finance Advisors

  Managing Principal

  Carter Froelich

  Managing Principal

  Launch Development Finance Advisors

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  Burt Wellmann

  Burt Wellmann, PE, serves as Regional Discipline Leader for Civil/Site engineering and brings extensive expertise across all facets of land development. His portfolio includes management of numerous high-profile projects throughout the greater San Antonio region. Wellmann's technical background encompasses the design and management of complex street and drainage initiatives, as well as comprehensive water and wastewater systems. Wellmann has built an impressive career specializing in municipal and public roadway reconstruction projects, demonstrating particular skill in coordinating complex interactions between utility providers and both public and private stakeholders.

  Colliers Engineering & Design Inc

  Regional Discipline Leader, Civil/Site Development

  Burt Wellmann

  Regional Discipline Leader, Civil/Site Development

  Colliers Engineering & Design Inc

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  Justin Lindabury

  As Managing Principal of TBG’s Austin office, Justin Lindabury leads a team of 40 professionals specializing in urban design, planning, landscape architecture and experiential design. Through Justin’s leadership, TBG has played a collaborative role in shaping master planned communities along the rapidly growing I-35 and 130 Toll Road corridors – creating places that prioritize thoughtful planning, placemaking, green spaces, and connectivity to enhance lifestyle experiences and deliver long-term value for developers, residents, and businesses. His portfolio includes key contributions to Wolf Ranch River Camp, Easton Park, Veramendi, and a new large-scale MPC development in Lockhart as well as MPC developments outside of Texas. Justin is also an active community advocate, having served on the Hill Country Conservancy Board and is currently on HCC’s public space committee.

  TBG Partners

  Managing Principal

  Justin Lindabury

  Managing Principal

  TBG Partners

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  Chris Fernandez

  Chris Fernandez leads the creation of thriving, forward-thinking communities—from early visioning and schematic concepts through to successful entitlements—for residential developments across Texas and around the world. His portfolio spans diverse regions including Utah, Montana, Colorado, and both Northern and Southern California, reflecting a broad perspective grounded in real-time industry and market insight. Known for his beyond-the-status-quo leadership, Chris excels in cross-disciplinary teams that bring diverse perspectives to the table. He consistently offers strategic, authentic, and progressive ideas that challenge convention. His work encompasses master planned communities, creation of conceptual housing typologies, site-specific neighborhood design, urban infill, and mixed-use multifamily developments. With a passion for placemaking and strategic creativity, Chris pushes both clients and communities toward exceptional outcomes.

  DAHLIN Architecture | Planning | Interiors

  Senior Director

  Moderator

  Chris Fernandez

  Senior Director

  DAHLIN Architecture | Planning | Interiors