LUMBERTON, Texas — The Lumberton Municipal Utility District Board of Directors announced an agreement on Monday with a company that recently purchased 3,200 acres on FM 421 West.
Brampton Essential LP purchased the land in order to build a residential-commercial development on the property according to Roger Fussell, District Manager at Lumberton Municipal Utility District.
"They have presented us an idea and some plans to do some multiphase residential commercial development," Fussell said.
Details have not been released on the development, but Fussell says more concrete details may be decided in the next 60 days.
"Lumberton has been a rather fast growing community and with this additional 3200 acre purchase, this is simply going to put a little more on top," Fussell said.
Fussell said the new development would be located near the Lumberton City Park on FM 421.
"I think they're really coming in to support the community and give them something nice, and something they can be proud of," Fussell said.
The agreement 'will provide financing to fund infrastructure improvements' within a '"Defined Area" supported by tax bonds collected only within the identified "Defined Area,"' according to the release.
News release from the Lumberton Municipal Utility District Board of Directors:
The Lumberton Municipal Utility District Board of Directors are pleased to announce the execution of a comprehensive agreement with Brampton Essential LP, owner of a 3200 -acre tract of land (the" Defined Area") located on FM 421 West in Lumberton, Texas.
This agreement will provide financing to fund infrastructure improvements within the" Defined Area" supported by tax bonds collected only within the identified " Defined Area".
Brampton Essential LP (the developer) has indicated plans for a multi-phase residential and commercial development with open spaces and green belt areas that will provide the community with a unique setting for the residents of Lumberton.