New Braunfels condo developer plans $15M office-warehouse project
Max Caruana, cofounder of GBMC Communities, is planning a $15 million office-warehouse development in New Braunfels. While Caruana’s company has historically focused on building condominium communities to fill a local housing gap, this project marks an expansion into the region's commercial and industrial real estate market. The move follows the developer's successful introduction of five residential communities to the Hill Country area over the last six years.
When Max Caruana started his development company in 2018, he noticed a gap in New Braunfels’ real estate market: condos. The cofounder of GBMC Communities has since introduced five condo communities to the Hill Country town in six years. “We saw the growth potential and saw that that product was missing,” Caruana said. “You either had to be in a multifamily apartment, or you had to go buy a house. A condo, if done correctly, should allow a price point that is lower than the house and that is…
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