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| LAKE ALAN HENRY INVESTMENT Ashley / Fagan Investments, Co., Inc. Lake Alan Henry Development Properties Including Rio Brazos Estates and Oak Canyon Estates with additional undeveloped property PROPERTY: • 220.82 Acres of Waterfront Property • 169.95 Acres of Plated Non-waterfront Property • 210.156 Acres of Non-plated Non-waterfront Property • 903.24 Acres of Undeveloped Property With an Option to Develop over 20 Miles of the Southern Shores of Lake Alan Henry. LOCATION: Approximately 70 miles southeast of Lubbock, Texas, just off of Highway 84 in Garza and Kent Counties. Terrain: The terrain of the two existing developments, Oak Canyon Estates and Rio Brazos Estates varies greatly from flats, to rolling mesquite country and scenic sandstone outcroppings in some areas near the lake. On the property surrounding the lake you’ll find cedar, mesquite and live oak trees. The undeveloped ranch property is generally rolling mesquite country with some fields. WATER: Water for the developments is supplied by the Rio Brazos Water System. The water system is supported by wells located in the undeveloped portion of the property. The current system can support 250 homes but it can be expanded if needed. The water supply and delivery system is approved by the Texas Commission of Environmental Quality. The water system is included with the purchase. Improvements: Rio Brazos Estates and Oak Canyon Estates are gated developments with electronic entry gates. Oak Canyon gates uses lot specific gate codes. Each development has a private boat ramp and Oak Canyon also has a 12- boat courtesy dock at the ramp. Electricity, provided by Big County Electricity Co-op is in place throughout both Developments. LAKE ALAN HENRY: Situated on the South Fork of the Double Mountain Fork of the Brazos River, Lake Alan Henry extends eleven miles between the rocky sides of the river channel and has fifty-six miles of shoreline. The lake is know for its clear water and beautiful shoreline and for the passed years has been consistently ranked in with the top 10 bass fishing lakes. As word has spread about the lake, fisherman from as far as Colorado, Kansas and Minnesota come to Lake Alan Henry on a regular basis. The fishing aside, the lake is perfect for water skiing and all other manner of water sports. COMMENTS: We are please to offer for the first time, a complete package including all the holdings for Ashley / Fagan Investments Co., Inc. These holding include two housing developments, Rio Brazos Estates and Oak Canyon Estates, located on the shores of Lake Alan Henry. These developments provide spectacular views of the lake with scenic home sites. Each lot is over 2 acres with some as large as 7 acres, providing more than ample room to build a home. When Rio Brazos was opened in 2001 it was the first development on Lake Alan Henry. It had 64 waterfront lots and 103 non-waterfront lots. There are only two water front lots remaining and 67 non-waterfront lots. Oak Canyon Estates began offering lots in 2004 with 106 waterfront lots. Sixty-three of those waterfront lots remain. In 2007 11 non-waterfront lots were added and only 3 remain today. Each development has deed restrictions governing what type and size home may be constructed. All construction and all changes to the lots must be approved by the developments’ architectural control committee. The Rio Brazos Estates Homeowners Association and the Oak Canyon Estates HOA are responsible for the oversight of the architectural control committee for their development as well as the general maintenance of the development. PRICE: $7,900,000 OPTION: Ashley / Fagan holds an option to develop approximately 20 miles of additional shoreline on Lake Alan Henry. This would take in most of the southern shoreline. Ashley / Fagan will transfer the right to negotiate the further development of that shoreline. The southern shoreline has the potential of offering over 800 waterfront lots and over 1,200 non-waterfront lots. |
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| All information shown above, while based upon information supplied by the owner and from other sources deemed to be reliable, is not in anyway warranted by this company or its agents |
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