Billed by Nunnally Pollard as a "traditional neighborhood development," the project at 13606 Lovett Rd. will feature 11 parks, three ponds and a town square with retail and office space. The multifamily component will consist of townhouses, mansions, condominiums and cottages. Home prices will range from $185,000 for cottages and condos up to $1 million for mansions. The development is scheduled to be built out in four phases.

According to Nunnally Pollard's website, Village at Magnolia Square's developer is planning to partner with others on the residential, retail and office build-out. Service-oriented and boutique shops make up the retail plan. Nunnally Pollard did not return telephone calls by press time to comment on the development.

According to local accounts, Nunnally Pollard paid $1.7 million in 2006 to acquire the 185-acre development site. About one year ago, city officials gave final approval despite residents' concerns about traffic and the impact on the quaint neighborhood from new development, local media reported at the time.

Steve Oubre with Architects Southwest of Lafayette designed the Village at Magnolia Square. Oubre, known for his pedestrian-friendly designs, has developed other traditional neighborhood developments, including River Ranch in Lafayette.