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SAN ANTONIO-One of the last largest available parcels in Medina County has been acquired by JMJ Development Inc. in a transaction that will allow the Dallas-based developer to build its first master planned community in San Antonio on the 870-acre site.Purchased from Dallas-based Baruch Properties for an undisclosed sum, the property, located on FM1283 southeast of Medina Lake, gives JMJ entry into the residential market in San Antonio, Timothy Barton, president and chief executive officer of JMJ Development, tells GlobeSt.com. The $50 million development, which is set to break ground in the first quarter of 2006, will put 382 single-family luxury homes on two-acre lots set amid rolling hills and meandering streams. The project, which has yet to be named, should take about seven years to complete.”This property offers a tremendous opportunity for JMJ Development to showcase our abilities in the Medina and San Antonio areas,” Barton says. “We were very fortunate to get a foothold in the San Antonio market.”Barton says the strong demand for improved land in the area coupled with the land’s natural beauty was a key reason for the acquisition. ” We think San Antonio is one of the hottest markets in the country right now,” Barton says. “ The natural beauty of the land is what attracted us in the first place and we intend to use low-impact, environmentally sensitive plans that will benefit our homeowners for years to come. More importantly, we’re in the high-growth northwest quadrant and a 30 to 40 minute drive from downtown.”The firm acquired the land, which was not on the market, through its longstanding relationship with Shaul Baruch, who founded Baruch Properties in the 1980s. JMJ did its first Dallas deal with Baruch 12 years ago. Barton says other developers have already approached JMJ about acquiring the property but he has no intention to sell. The company also is close to striking a deal for 1,500 acres of land in San Antonio, he says.The company recently started construction on a 1,092-acre residential development in southwest Austin as part of the Spiller Ranch master planned community near State Highway 45 in northern Hays County. It is also building the Rosewood Hotels & Resorts’ luxury Laguna Kai resort in the Mayakoba region, south of Cancun, Mexico.

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