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M/I, Meritage split $7.6M bridge for 496-home Buda development

The bridge will connect The Colony at Cole Springs to Buda’s downtown commercial corridor, with each builder paying half the project cost.

Reported · Written up by our desk · Residential

M/I Homes and Meritage Homes are teaming up with the City of Buda, Texas, on a public-private infrastructure project tied to a new 496-home master-planned community. HousingWire reports that the city held a ribbon-cutting for a $7.6 million bridge that will link The Colony at Cole Springs with Buda’s main commercial corridor, traversing over a creek that runs through the town.

The arrangement splits the bridge bill evenly, with M/I Homes and Meritage Homes each covering half of the total cost. HousingWire notes the deal uses MUD and tax reinvestment incentives as part of the builder-city partnership framework.

The homebuilders’ approach highlights the tradeoffs of builder-funded public investments in an environment where both home price affordability and builder margins are under pressure, according to HousingWire. Derek Baker, Austin Area President at M/I Homes, said the key is balancing required public improvements like the bridge with affordability goals, and emphasized early collaboration with city officials to avoid surprises later in the process.

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