atural Development Austin
BELTERRA
Belterra is a 1,600 acre master planned community entitled for 2,000 residential homes and 100 acres of commercial.
From 2003 up to and after the closing to Crescent, NDA’s team developed 1,495 lots and had over 1,300 home closings. Eric Willis was involved in every lot sale transaction during this time which included working with multiple builders, title companies and lending institutions.
Belterra has Two Water Control and Improvement Districts through which the sales of bonds were coordinated with Eric Willis, the WCID Board of Directors and the WCID’s various consultants. These bonds were sold to reimburse the owner of the project for capital improvements. During Eric’s involvement with Belterra, the WCID’s issued 7 different bond issues for approximately $40 million dollars.
Natural Development Austin managed the marketing and advertising, maintained a network of builder contacts, and established positive relationships with the homeowners and neighbors. We also facilitated the formation and operation of the HOA where we served as members on the board.
​Owner Eric Willis and other members of his current team were involved with Belterra from the time the first lot was sold in 2003 through the sale of the project by Farallon Capital Management to Crescent Communities in 2013 and for a transition period into 2014 on behalf of Crescent Communities.
The 2013 sale included commercial land, finished lots, undeveloped platted lots, raw land, the Welcome Center and the rights to reimbursements for capital improvements within the project. Natural Development Austin was intimately involved in the sale of the project by Farallon to Crescent from contract to close.