Laredo EDC, Killam Development receive TEDC award for The Coves 

LAREDO, Texas – Texas Economic Development Corporation’s Community Economic Development Award recognizes member organizations for their “exceptional contributions to economic growth and revitalization.”

The award is given for projects that can demonstrate “innovation, community impact, and long-term sustainability.”

Laredo Economic Development Corporation has won such an award. LEDC received a “Merit Recognition” award for its presentation on The Coves, a mixed-use development and master-planned community being built on 1,027 acres in northeast Laredo.

The Coves is being built by Laredo-based real estate development company Killam Development.

LEDC and Justin Heather, an LEDC Board Member and deputy general counsel for real estate and economic development for Killam Development, submitted the application to TEDC.

“The CEDA Award recognizes projects that elevate the economic potential of Texas communities,” said Heather, Killam Development’s deputy general counsel for real estate and economic development. “We are honored to present The Coves, a reflection of our commitment to innovation and sustainable growth, while putting Laredo on the map for impactful development statewide.”

The TEDC award.

The Coves is being built along Loop 20, Laredo’s bustling commercial artery. Development began with the groundbreaking of the first four lots by Winfield Communities in Fall 2023, with an official ceremony marking broader progress on June 4, 2024.

The plan is to develop 1,800 residential homes, 900 multi-family units, educational institutions including Laredo College and public schools spread across 45 acres, a hospital, donated site for a medical facility in South Laredo, and expansive retail spaces totaling 650,000 square feet within an urban town center concept. 

Additionally, hotels will cater to the needs of travelers and tourists, while 23 acres of green space will provide opportunities for recreation and leisure.

“The Coves is designed for residents, community members, and guests of our city to discover the center of connection through interacting and engaging in the social spaces that bind neighborhoods and build friendship and community,” said Cliffe Killam, president and CEO of Killam Development. “At the center of everything we do, we always position Laredo and Webb County first, and we will continue to work collaboratively with elected officials and stakeholders for the growth and prosperity of our entire city and county.”

A press release from Killam Development said The Coves will include single-family and multi-family residential areas, as well as retail, office, and commercial spaces. 

“The Coves exemplifies a true public-private partnership, bringing together Killam Development, Webb County, the City of Laredo, and Laredo College,” the press release states.

“The project’s framework includes a tax increment reinvestment zone (TIRZ) that was established with support from these entities, enabling economic growth, job creation, and an enhanced quality of life for residents. The project aims to expand the local tax base, attract a diverse workforce, and position Laredo as a leading destination along the Rio Grande.”

Heather said The Coves represents a truly transformative and innovative mixed-use, master planned community that promises exceptional benefits to the community of Laredo. Most importantly, he said, it could not have been possible without the absolute partnership of the public and private communities.

Realization of The Coves is a testament to the vision and dedication of the Killam Family and the Killam organization, Heather said. He pointed out the family has been integral to the fabric of South Texas since 1919. 

“With resolute devotion to community empowerment and positive social impact, the Killams continue to demonstrate their unwavering dedication to the betterment of Laredo and South Texas.”

Group photo.

Editor’s Note: Click here for more information about The Coves. Click here for more information on Killam Development. Click here for more information on Laredo EDC. Click here for more information on Texas Economic Development Corporation.

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