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MONTGOMERY COUNTY

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Millionaire Mexicans moving to a neighborhood near you

06:43 AM CDT on Wednesday, October 24, 2007

By Vicente Arenas / 11 News

Vicente Arenas' 11 News report

The home has a moat, fountains and is surrounded by a pine forest. Its price tag is $2 million.

The newest wave of millionaires buying these mansions are doing it in area you might least expect. 

It is one of the hottest neighborhoods in The Woodlands. Realtors said crews can hardly keep up with the demand for homes here. 

It’s considered a safe haven for families. Its tree-lined walkways and proximity to a big city is one reason Emilio Guzman, originally from Mexico City, couldn’t wait to move here.

“Woodlands is the perfect place for us,” he said.

11 News

Guzman says many Mexican nationals are moving to The Woodlands to escape the violence, crime and kidnappings in Mexico City. 

“And it’s such an unsafe place for children that we decided to walk away a long time ago,” Guzman said.

Guzman owns a branding company and has offices in both Houston and Mexico City.

Mexican nationals are building huge homes in the area’s pine forests. One home sold for $2 million -- moat included. Crews were working on a monster garage nearby for a home that Compacta Construction said will cost $3 million.

Compacta said later this year, it plans to build six more multi-million dollar homes in this subdivision near The Woodlands.

The company said its Mexican clients pay cash.

Not all the homes the nationals buy are in the million-dollar range. They are also asking for homes that cost anywhere from $200,000 to $700,000.

Some realtors said they expect sales to Mexican nationals to get even better in the years to come. Already in some cases, they say, Mexican nationals are snatching up empty lots as they become available.

“One of my clients told me that it was probably, for what you get it, was probably the cheapest place in the world to live because of what you get,” realtor Enrique Rosales said. “More than 100 parks, golf, shopping.”

The list goes on and keeps growing and The Woodlands wants Mexicans to know it and is rolling out the welcome mat. And the community is doing so in a climate where there is great debate over illegal immigration from countries like Mexico.

Mexican businessmen are able to get visas and come here legally because of a provision in the North American Free Trade Agreement that allows them and their families to live and conduct business here legally.

“And so with open arms we said, ‘come on here and bring your businesses and let us show you what opportunities we have,’” said Nelda Blair, chairwoman of the Town Center Improvement District.

The Woodlands does not keep records of exactly how many people from Mexico have set up shop in the upscale community. 

They are clearly opening businesses, and buying and building new homes and strengthening a housing market that seems to be falling in other parts of the Houston.

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