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CORPUS CHRISTI, TX-Corpus Development has inked a preliminary contract to acquire a 1,000 acre site in Corpus Christi, Texas near Live Oak, a residential development for $110 million. The new site is an area with 50 large buildings including barracks and a mess hall. The company plans to convert the site into a light-industrial zone.

If the new project becomes viable, Corpus Development expects to receive financing for the 1,800-acre Live Oak Preserve in Ingleside. For the full story, go to Wall Street Journal.

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