In what has to be good news for commercial developers, Magnolia plans to lift its building moratorium in a few months. The moratorium was put in place in December of 2022 due to an anticipated water shortage if the pace of development continued at the same speed it was going. The Houston-area city restricted new water hookups, halting large-scale residential and commercial projects.
Community Impact reports that several infrastructure additions and maintenance projects—costing $30.2 million—including new wells, tanks and booster pumps—are nearing completion, and the city will begin operating with a lifted development moratorium as early as September.
The city expects to see a spike in development once the moratorium is lifted. It has already secured land for a fifth water plant and is currently looking for land to acquire to accommodate a sixth water plant in the future to support growth and avoid water capacity setbacks.
The post Magnolia to Lift Development Moratorium appeared first on Connect CRE.
​Â
