The Austin branch of San Antonio-based Jefferson Bank will provide $15 million in financing to award-winning homebuilder Pacesetter Homes to expand
its operations in the Austin area, the bank announced Thursday.
Pacesetter, a Texas-based subsidiary of Canadian company Qualico Communities, has built and closed on 5,300 homes in Austin to date, according to the company. Aimed at entry-level and first-time move-up home buyers, the metro area homes cost between $250,000 and $450,000.
The Texas company has been active in high-profile Austin metro communities such as Whisper Valley and Easton Park. It will be a builder in the recently approved Triada planned development in Elgin, 30 miles east of downtown Austin It's also the lead builder in Qualico’s new Center Point community in San Marcos. Triada and Center Point will both have more than 850 homesites.
Pacesetter and Qualico said they anticipate continued growth in the Austin metro area. “We are both family-owned entities with long, rich traditions of investing in the communities we serve. Jefferson Bank shares our desire for a long-term business relationship, rather than focusing on completing a deal and moving on to the next opportunity," Qualico's LaNelle Deardorf said. Jefferson Bank opened its downtown Austin branch in spring 2023.
