The FMSbonds, Inc. investment banking team recently priced seven Texas special assessment bond issues totaling more than $110 million over a three-day period.
The financings supported single-family residential developments in Celina, Gunter, McLendon-Chisholm and Lowry Crossing, Texas.
“Successfully bringing multiple financings to market over a very short period requires close coordination among our clients, financing partners and internal team,” said R.R. “Tripp” Davenport, III, Director, Investment Banking. “We’re pleased to help deliver the capital needed to keep these projects on schedule.”
FMSbonds, Inc. is the No. 1 Public Improvement District (PID) bond underwriter from 2017 through year-to-date 2026. Year to date, FMSbonds has priced or closed 41 Texas Special Assessment bonds representing more than $482 million. Since January 2019, the firm has marketed and underwritten 380 Texas special assessment deals totaling more than $4 billion in Texas bonds, accounting for approximately 93% of the state’s special assessment bond market by par amount.
January 1, 2026 – YTD 2026
Number of Texas PID Underwritings*
- FMSbonds – 41
- All Other Firms – 3
Texas YE 2019 – YTD 2026
Number of PID Underwritings*
- FMSbonds – 380
- All Other Firms – 20
The bond financings recently completed in North Texas include:
$50,000,000 of special assessment revenue bonds for the Platinum Ranch Public Improvement District Improvement Area #1 project, and $11,694,000 for the Platinum Ranch Public Improvement District Major Improvement Area project in Gunter, Texas. The 1,175-acre master-planned community is expected to include about 4,224 single-family residential lots. Construction began earlier this year is expected to be completed in the second quarter of 2027. The developer is Centurion.
$18,937,000 of special assessment revenue bonds for the Sonoma Verde North Public Improvement District Zone A Improvement Area #1, and Zone B Improvement Area #1 projects, in McLendon-Chisholm, Texas. The district is comprised of approximately 314.7 acres and is a portion of the master-planned residential community known as Sonoma Verde. The Sonoma Verde development also includes property within the Sonoma Verde PID, which consists of approximately 1,095 single-family lots and the future Sonoma Verde East development, which is expected to consist of 365 single-family lots. Zone A is expected to be completed by later this year and Zone B later this year and mid-2027. The developer is PulteGroup.
$14,985,000 of special assessment revenue bonds for the Taylor Ranch Public Improvement District, Improvement Area #1 project, and $2,016,000 for the Taylor Ranch Public Improvement District Major Improvement Area project, in Gunter, Texas. The development is an approximately 491-acre master-planned community that is expected to consist of 649 single-family units. Initial grading began in the second quarter of 2024. Construction of utilities and other major infrastructure improvements is expected to begin in the third quarter of 2026, with completion anticipated in the fourth quarter of 2027. The developer is Centurion.
$16,071,000 of special assessment revenue bonds for the North Sky Public Improvement District Improvement Area #2 project. The district, in Celina, Texas. Improvement Area #1 is comprised of approximately 83.2 acres and 322 single-family residential lots, and Improvement Area #2 includes approximately 136.9 acres and is projected to include 467 single-family residential lots. Home construction began in May 2024. Corson Cramer Development is the developer.
$8,301,000 of special assessment revenue bonds for the Lowry Trails Public Improvement District Improvement Area #2 project in Lowry Crossing, Texas. The approximately 98.4-acre master-planned community is projected to include 431 single-family residential lots at full build-out. Improvement Area #2 encompasses approximately 39.3 acres and 175 single-family residential lots. Infrastructure construction began in June 2025 and is expected to be completed this year. Green Brick is the developer.
For more information, call Tripp Davenport at 214-418-1588 or email tdavenport@fmsbonds.com.
* PID bonds closed, priced or in marketing period through 7/28/2026. Full credit to Sr. Manager. Excludes PID bonds supported with ad valorem taxes and purposefully excludes Wisconsin PFA or any other out-of-state conduit issuers which have not been reviewed or approved by the Texas Attorney General. Percentages may not sum due to rounding.
This article contains forward-looking statements regarding the project’s anticipated development, including projected lot/unit counts, home counts, construction timing, and planned amenities, which are based on the developer’s current plans and are subject to change. Actual results may differ materially due to construction delays, market conditions, financing, permitting, or other factors. This article is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities. Any such offer is made only by the official statement, which should be reviewed in full before making any investment decision. FMSbonds, Inc. undertakes no obligation to update these statements.