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Old Posted Feb 6, 2016, 7:35 PM
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The Woodlands' economy starts to feel pinch from low oil prices

Quote:
After unit pre-sales in 2015 and a redesign of the residential tower, The Woodlands Development Co. announced its decision to put plans on hold due to the uncertain economic climate.

"The Woodlands Development Co. is confident that Treviso, as planned and designed, is the appropriate iconic residential building for the premiere site it will occupy. The Woodlands Development Co. will restart the sales process once the market shows signs of rebounding," the developers said in a statement.

During preliminary reservations at a private event in May, 46 reservations were reported to have been made. Units started at $650,000, and the Treviso was expected to begin construction in time for a late-2017 opening after half of the units presold.

But the property, which is featured on the company's a newly launched site, will remain undeveloped for the time being. The Woodlands Development Co. declined to comment on whether customers who purchased units could opt for a refund. But the company remains optimistic about moving forward when markets rebound.
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