SAN BENITO — Amid decades of sluggish growth here, SpaceX is helping spur a housing boom sparking subdivision developments across town.
Along with low interest rates, the rocket company’s expanding Boca Chica site is helping drive growth north into the city.
Since 2019, about four new subdivisions have outlined plans for as many as 300 lots, most along Interstate 69.
“All of a sudden, we get an influx of people coming from California, and they’re really buying,” Mayor Rick Guerra said. “Growth is coming. Is it because of SpaceX?”
While new Census figures nudged the city’s population to 24,861 from 24,250 in 2000, Guerra is counting on the boom to push numbers over the 25,000 mark.
“We could apply for more federal funds,” he said, noting federal officials award money based on population counts.
Land values soaring
At Keller Williams Realty, Bertha De La Rosa said the area’s long-awaited growth boom is finally hitting home.
“We’ve got engineers coming for SpaceX,” she said. “We’re getting a lot of people from California, Florida. The residential portion is pretty strong right now, especially along the freeway.”
Meanwhile, land values are rocketing.
“We’re running out of developed land so when a big parcel of land becomes available, developers are jumping on it immediately,” De La Rosa said.
Subdivisions popping up
Since 2019, the Liberty Estates and Broadway Place subdivisions have been planning a total of 109 new lots, city spokesman David Favila said.
Meanwhile, the new Russell Ranch and Citadel subdivisions are planning a total of about 170 lots, City Commissioner Rene Garcia said.
“As Brownsville continues to grow, the growth from Brownsville is spreading north,” he said. “I believe developers from around the area see San Benito as potential residential development. We’re glad it’s happening here. We’re happy to be part of the growth in the area.”
Meanwhile, new home prices are soaring.
Before the coronavirus pandemic hit in March 2020, a 1,600-square-foot brick home was selling for about $120,000, De La Rosa said.
Now, she said, the same sized home is on the market for about $170,000.
