The Falcon Club is located about 7 miles Southwest of Amarillo on 655 acres
Then the troubles began, the developer, Paul Gillette was charged with fraud, tax evasion and other money related charges, the development began having water issues (the water park was never built), and it seemed that all you ever heard about the development was negative news. Only 23 homes occupy the initial phase of the development that was platted out for 54 lots. The development was put on hold and nothing much has progressed in the last 6 years in the Falcon Club. The existing property values softened and the real estate activity slowed dramatically. Last year (2011) the developer Paul Gillette was charge with the first degree murder of his wife and has now been completely removed from the development.
A new breath of hope for the Falcon Club.
A source revealed yesterday that the lawsuit in Falcon Club was now settled, with the help of a mediator. New covenants are currently being written by the attorneys and should be a matter of public record within a couple weeks. Residents of Falcon Club will have some new options, which will certainly bring the skepticism down and reputation of the subdivision back up and hopefully increase their property values.
Some of the new covenants will include;
- Residents will be able to build a 6' Cedar privacy fence
- Residents will either be able to stay on the water system, if they choose or drill their own wells.
- The water system is now regulated by the TCEQ of TX. They have hired someone to keep it maintained and collect the $65.00/month charge and he is paid based on the gals of water usage used.
- Should a resident choose to drill their own water well, they will have to agree to continue to pay the $65.00/month for a total of 18 months, at which time they will be released from that obligation.
- Gillette is OUT!