Phase I-156 Units

Phase II-198 Units

60 acres – 24 estate lots

176 Units

64 Units

13,600 square feet

28,500 square feet

3,800 square feet

41 platted townhomes

160 units

140 units

1601 Catalina Bay Court, Granbury, TX

3,900 square feet

Joint Venture with builder

3.900 square feet

2,500 square feet

Don Murphy Resume 

     Don murphy’s commercial real estate development career began in Dallas, Texas when he was in his twenties and has continued for over thirty years. He founded and directed Dallas Development Corporation, developing commercial projects in Texas and Oklahoma for over a decade. The Texas projects were highlighted in detailed news stories in the Dallas Morning News, the Fort Worth Star Telegram, the Fort Worth Press and others. The Village at Woodland Hills, a 352, 000 square feet regional shopping center located in Tulsa, Oklahoma was featured in a rezoning story on a local Tulsa television station and the Tulsa Tribune, along with recognition by two national shopping center magazines at its completion. Murphy was only 31 when he created the Tulsa project, securing financing by signing Mervyn’s, Marshal’s and Beall’s department stores as anchor tenants. The shopping center was the largest to be built in the state over a ten-year period.  

     Murphy formed Avalon Property Company Inc over twenty-five years ago to move into the markets of Houston, Texas, Victoria, Texas, Phoenix, Arizona, Granbury, Texas and four other cities in New Mexico. In most of those markets, he created Avalon branded apartment projects and shopping centers in separate partnerships. All apartment complexes have been financed through Davis-Penn Mortgage, Houston, with HUD guaranteed loans, which are market rate programs, with no restrictions or federal funding, just loan guarantees. These HUD 221-d4 non-recourse loans allowed him to develop multiple projects at the same time. He added another New Mexico project through this loan program in 2011, the Avalon at Carlsbad. He then received national recognition at an annual HUD-Lender convention for creating the apartment development in Carlsbad, which had not seen a new complex built for 26 years. According to his mortgage company VP, the HUD official told the audience of lenders, “He is the type of Sponsor, (developer) that you should be attracting to this loan program.” He also received a New Mexico Economic Development “Community Impact Award”, with a plaque, for the Carlsbad project, at an annual convention in 2014. He subsequently formed two more New Mexico apartment developments simultaneously in Hobbs, and Lovington, where he was the co-developer with a partner. A second phase of the Avalon project in Carlsbad was closed at the Fort Worth HUD office in December 2014 with the same lender.   

     In addition to apartment projects, Murphy has developed and fully leased two medical office parks which were sold in November 2014. Earlier he developed a 41-unit townhome development, along with a 44,000 square feet shopping center, Chili’s restaurant, Walgreens Pharmacy and the 134-unit Avalon on the Lake apartment project, all in a 52-acre master planned community on Lake Granbury.  

     He took a different design approach to subdivisions with the development of Catalina Bay, which is a 151-acre Fort Lauderdale style canal development on Lake Granbury, Texas. With a half mile of lake frontage, Murphy added 2½ miles of canals, excavated with bulkheads installed, and included a large bay area, formerly a gravel pit. This 214-lot development was transformed into waterfront lots, which is now completed with luxury homes, some surpassing $2 million in value.  

     Most every development project entails some formal approval process, usually including re-zoning, re-platting and variance requests. Murphy handles these directly for each development partnership and has made multiple presentations to city councils and planning and zoning commissions in over twenty cities in six states: TX, OK, LA, NM, AZ, and CO. With apartments, medical offices, shopping centers, office buildings, town homes, restaurants, single family and subdivision experiences, except for high rise and industrial, Don Murphy has developed most every type of real estate during his life-long career. Murphy is currently working with lenders and city officials on new apartment projects in Santa Fe, New Mexico and Kemah, Texas, which is a Galveston Bay community just south of Houston.  His most recently completed project, the Brazos Crossing Apartments of Granbury, Texas, sold in November 2021, only 18 months after completion.