MAGNOLIA – Audubon Magnolia Development LLC has sold approximately 20 acres in Audubon, a master-planned community at the intersection of the SH 249 toll road and FM 1488, to XAG Group for the construction of a lifestyle retail center and hybrid-style multifamily community.
The first phase will include construction of an approximately 30,000-sf, two-story retail center.
The project’s second phase, Rasha at Audubon, will be a three-story, garden-style apartment complex and four-story mid-rise apartments.
The 326-unit development will have 184 one-bedroom units, 125 two-bedroom units, and 16 three-bedroom units.
Amenities include elevators, a business center, co-working spaces, fitness center, yoga studio, family movie theater, and game room. There will also be walking trails that connect to the Audubon trail system.
The retail center is expected to open in early 2024. The first apartments will be ready in 2025.