A new housing development is hoping change the landscape of home ownership in Central Texas.

Developers of "The Lakes at University Parks" say they offer a one of a kind opportunity.

Located off University Parks Drive near loop 340, "The Lakes" offers new pre-manufactured homes, starting at around 70-thousand dollars.

Developers say that's perfect for anyone wanting to own a home for the first time. Developer Brenner Campbell says, "We offer premanufactured homes, monthly payments as low as 500 dollars up to around 800 dollars, so that falls in line with what rents are in Waco."

This new development is welcome news to city officials, who have been looking for ways to increase homeownership in Waco.

They say owning, instead of renting, promotes pride and stability within neighborhoods.

The finishing touches are being put on the first homes in the community, making them ready for residents wanting to take the next step into home ownership.

Tours of "The Lakes" will continue Saturday and Sunday.