New lease on life

HARLINGEN – The stop-and-start development of the Las Colinas of Treasure Hills residential subdivision is once more a go.

A partnership group in Arizona took over the property in November.

The subdivision consists of 124 finished residential lots, including lake frontage and frontage on the Treasure Hills Golf Course. The lots range from 8,000 square feet to 13,500 square feet.

“We are excited about this project,” said Danny Riggs, of Oasis Financial LLC, located in Tempe. “We are providing well-located golf course and lake lots within a prestigious area. In addition, we will be able to offer the lots at much lower prices than previously marketed.”

Riggs said that retail home prices within the subdivision are expected to range from $160,000 to $260,000.

The company said power has been completed to most of the lots, and the site has been cleaned.

The City of Harlingen, Oasis officials said, is scheduled to finish road maintenance.

Company officials said while experienced at home construction, they are focusing their current building at developments in Arizona and Southern California. They say they are offering homebuilding at Las Colinas to construction firms in the Rio Grande Valley.

Oasis stressed the lots on what had been a troubled development are free of liens and ready for sale.

“Basically the properties at Las Colinas were in a bad situation,” said Paul Sargent, a principal at Oasis Financial. “We were an investor in it, and we have taken over the property.”