Rendering of Heritage Square, Waco, TX

Projects

Morton Ranch

Front of Morton Ranch

In 2005, Wallace Bajjali Development Partners acquired 22.9 acres of land that was developed into 103, 60-foot single-family lots in Phase III of the Morton Ranch Subdivision located at the southeast intersection of Mason Road and Morton Ranch Road, north of I-10, in west Houston, Texas.

In January 2006, the Property was developed with all 103 lots on the ground and Royce Homes having accepted the "substantial completion" of all lots in Phase III.

Playground at Morton Ranch

In September 2006, Royce Homes closed on the first series of lots. Based upon information provided to us by Royce Homes, home sales are going well and future anticipated lot takedowns are on track. Royce established a sales office on the Property with the Partnership's help back in July 2006 and the Morton Ranch Amenity Center located at the entrance to Phase III has been completed and is open. The approximately $1 million dollar upscale Amenity Center comprises an Olympic size pool, splash pad, clubhouse and playground area and related improvements.

Royce Homes seized all homebuilding operations in 2008. There are 46 lots available for sale to qualified homebuilders. Please see our For Sale page for more information.

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