This is regarding David Bagwell. We are in love with his neighborhood, and are considering lot in Broughtonbut his behavior is causing us a lot of concern. Do you know how his bankruptcy has affected his strong hold on his communities?
A little background here: Developer David Bagwell, who once worked with Mayor Leppert at the Trammell Crow Company, has super strict rules for just about every move you make if you buy a home in one of his five Colleyville developments: who builds the house, who repairs it, what you can plant, where you can plant it, even how many inches away the front door coach lanterns have to be. And when you submit your new home or remodel plans to the Architecture Control Committee, you have to pay a fee. About this time last year here’s what we were discussing on DallasDirt: “David Bagwell is working as hard at staving off foreclosure on some of his Colleyville lots as he once did being the architectural control Nazi of the neighborhood. As one reader put it, not only did he peer over fences to check for compliance, homeowners were charged repeatedly just for submitting and re-submitting requests:
“Candy, you missed one thing about submitting for approval. Not only do you have to submit for approval, if it is declined, you have to pay a fee to resubmit. Basically the entire fee structure is set up to fail to keep submission payments coming in. You have to pay a fee to submit for approval to stain your garage the SAME color it currently is.
The CCR’s are located on Bagwell’s website. If you have 10 hours to waste, go read them.”
I don’t have ten hours to waste. Last I heard, Bagwell’s lots got foreclosed on, Toll Brothers has picked up some of his mortgage notes, which ought to make homeowners in three of the subdivisions perk up: If Toll bought the 26 lots in Broughton, 49 lots in Old Grove and 36 lots in Whittier Heights, they could ask for control of the development, shake things up at the HOA. Life might be groovy again.
Any of my Southlake/Colleyville readers know if the foreclosure has made these communities a more pleasant place to live? And here we thought fore-closure was a bad thing!