Austin Business Journal shares, " A Georgetown mining site may find new life as a 1,894-home neighborhood.
Freehold Capital Management is developing the property and expects to deliver some lots in 2029, according to a Freehold representative.
A portion of the 727-acre tract currently houses mining operations. The company is in the early stages of feasibility and entitlement, the representative said, so Yearwood's phasing and final home count remain up in the air. Peregrine Investments and Cross Lake Partners are also working on the project.
Georgetown City Council heard a presentation on Feb. 10 for a potential in-city municipal utility district associated with the development. Located at the intersection of Rattlesnake Road and Ronald Reagan Boulevard, developers are requesting the site be annexed into Georgetown city limits.
Plans indicate a wastewater treatment plant and fire station may be located on site. Per MUD policy, the city of Georgetown would provide water and wastewater services for the development.
Freehold Regional President Matt Matthews told council members the company also plans to develop the 855-acre site directly north of Yearwood. To better reflect the Yearwood site and surrounding property's anticipated use, Assistant City Manager Nick Woolery said staff wants to change the broader area's current mining and rural residential land use designation.
Considering the property's status as a mining site, “timing is pretty critical on this property,” Woolery said.
City Council members expressed concerns about the property changing from mining to housing, but Matthews said they are assessing how to properly repurpose the quarry. Making use of existing site features, the property's spring-fed quarry lake will become the center for neighborhood amenities.
Freehold's current plans suggest 35% of Yearwood may be age-restricted housing, which Matthews said creates room for diverse housing opportunities and may appeal to homebuyers looking for communities similar to Sun City's Georgetown neighborhood.
“It's something we'd like to explore with the city,” Matthews said, though several council members said they would want markedly less housing set aside."
Source: Austin Business Journal
Written by: Ali Juell
Published: February 24, 2026
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