Montgomery County Approves Agreement to Launch New Development in Magnolia

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At the court meeting on September 28, Tammy McRae, tax assessor, seen in this file photo, said Signorelli Complany expects to add around $ 10 million in business development to Magnolia Springs.

Jason Fochtman, Houston Chronicle / Staff Photographer

Montgomery County Commissioners have approved an agreement with Municipal Utility District No. 180 that will allow the developer to recoup road infrastructure costs in the new residential development in Magnolia.

The new development, dubbed Magnolia Springs, is off FM 1486. ​​The agreement will allow the developer to build roads and signage in advance, with the county paying off interest-free over a 20-year period.

In April, Woodlands-based Signorelli Co. announced the community of Magnolia Springs, a planned 665-acre community designed for up to 1,900 homes and 175 acres of green and open space.

At the court meeting on September 28, Tammy McRae, tax assessor, said Signorelli expects to add around $ 10 million to business development.

“The area has thrived and is already a major destination for families of all sizes,” said Juanita Orsak, vice president of land development at Signorelli, in an announcement earlier this year.

The location, near the grounds of the Texas Renaissance Festival, is approximately 80 miles northwest of downtown Houston. The new extension of the Aggie Highway connecting FM 1488 to FM 1774 provides better access to Tomball.

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