The suburbs of Austin are growing. In fact, about two of every three people who move to the Austin area decide to call the suburbs home. The Austin Business Journal reports on several mixed-use projects in the works for towns around Austin.
In Pflugerville, developers are hoping for city council’s approval to build a mixed-use project with 1,208 residential units, 1.1 million square feet of office space, 3,000 square feet of shopping and restaurant space, a hotel with 200 rooms, a civic building, 10 acres of parkland, a festival street, an amphitheater and more. This version of the 45 acre project called the Pecan District will cost $1.2 billion and bring a ton of tax revenue to the city, according to the developer, as reported by the Austin American Statesman.
If the city doesn’t give an okay to the zoning change, the land will just be used to build 735 residential units, 194,000 square feet of office space, 84,000 square feet of shopping and restaurants, and there will not be a hotel or the other amenities. The developer says this version will only cost $400 million and will create way less tax revenue, as well as have a giant parking lot as a feature.
In Smithville, the city has approved a 42 acre mixed-use development that will add $25 million to the tax rolls for the city, according to the Austin American Statesman. The planned community will have apartments, a hotel, and assisted living for seniors. It will have retail as well, put forth as a store, bank, convenience store and restaurants.
In Bastrop, a downtown lot that has been vacant since a fire many years ago is set to be redeveloped. The City of Bastrop used it for events for years until severe structural problems were discovered which forced it to close. The city eventually sold the land to the Bastrop Economic Development Corporation for $4. Stone Cobalt Partners is redeveloping the site into a mixed-use building with 4,500 square feet that will include a restaurant and stores on the first floor, offices on the 2nd floor, a balcony that will have a view of Main Street and may also add a rooftop deck that can host events.
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