FMSbonds, Inc.’s investment banking team brought $30.684 million in special assessment bond financings to market for Manzano Mile, a 254-acre master-planned development in Marble Falls, Texas.
The financings include $23.45 million for the Manzano Mile Public Improvement District Improvement Area #1 Project and $7.234 million for the Manzano Mile Public Improvement District Major Improvement Area Project. Rockspring Development, LLC is the developer.
From Jan. 1 through Sept. 14, 2026, FMSbonds, Inc. has priced, closed or is currently marketing 56 Texas Special Assessment bond issues representing more than $706 million in bond par. Since January 2019, the firm has marketed and underwritten 395 Texas special assessment deals representing over $4.3 billion in Texas bonds, approximately 95% in market share.*
Jan. 1, 2026 – Sept. 14, 2026
Number of Texas PID Underwritings*
- FMSbonds – 56
- All Other Firms – 3
Jan. 1, 2019 – Sept. 14, 2026
Number of Texas PID Underwritings*
- FMSbonds – 395
- All Other Firms – 20
Manzano Mile
The development is planned to include 487 single-family homes, 259 single-family rental units, 245 townhomes, 600 multifamily residential units and 82,700 square feet of commercial development. Plans also call for a city park, neighborhood parks and trails.
Development of Improvement Area #1 will proceed in two subphases. Construction of improvements serving Subphase A is expected to begin in October 2026, with lot development planned for completion in August 2027. Work on Subphase B is expected to begin in September 2027 and be completed in January 2029.
Construction of the Major Improvements is expected to begin in October 2026 and is scheduled to be completed in January 2029. Bond proceeds allocated to city projects will fund construction of public parks and trail improvements.
For more information, call Tripp Davenport at 214-418-1588 or email tdavenport@fmsbonds.com
* Based on data from the Texas Municipal Advisory Council through Sept. 14, 2026, with market-share calculations performed by FMSbonds, Inc. Market share is calculated by number of qualifying Texas PID bond issues, with each issue credited entirely to its senior manager. Excludes PID bonds supported by ad valorem taxes and out-of-state conduit issuers, including Wisconsin PFAs, that were not reviewed or approved by the Texas Attorney General. Percentages may not total 100% 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.