Austin Business Journal shares, "Taylor is set to get some new housing — in the form of a dense condo project — as economic growth in the rural city foreshadows a population boom.
Austin-based Metropolitan Development Company LLC is behind the condo project on Taylor’s Second Street, according to an announcement. It also will include some commercial space, said Pawel Hardej, principal at Metropolitan Development.
The project — called The Ferguson — will have eight garden homes, 16 townhomes, 60 condos and five live-work spaces on about 1.5 acres at the intersection of Ferguson and Second streets. The units will range from 575 to 1,534 square feet.
Prices will begin in the mid-$200,000 range.
“On purpose, we did not throw in an expensive swimming pool or dog spa,” Hardej said. “Why? Because we really want to make it affordable … so we’re keeping our price points low because we can keep our construction costs low.”
Amenities such as a pool or dog spa also drive up operating costs post-construction, Hardej said. He added there is hope that not including them will encourage residents to get out and experience the city. The Ferguson is located minutes from downtown Taylor, where a number of historic buildings are being revamped into hotels, restaurants and more.
Hardej said work on The Ferguson is expected to break ground in the spring of 2025, with the first units delivered about 18 months later. A general contractor isn't attached to the project yet, but Hardej said his firm is “pretty sure we know who that’s going to be,” although it isn’t ready to make an announcement.
While Taylor’s population growth has been muted in recent years — it went from 15,191 in 2010 to an estimated 17,337 in 2023, according to the U.S. Census Bureau — that's expected to change thanks to an industrial boom spurred by Samsung's new chipmaking factory in the small city.
Among the projects expected to drive employers to the area, Samsung supplier iMarket America Inc. plans to build 2.2 million square feet of industrial space in Taylor, plus commercial space for retailers, restaurants and support services. Other companies known to be expanding in the region include Wonik Materials North America LLC in Manor; Soulbrain Holdings Co. Ltd., HTNS America Inc. and ENC Inc. in Taylor; MSS International and KoMiCo Technology Inc. in Round Rock; Fine Semitech Corp. in Hutto; EcoMicron Inc. and Hanyang Eng USA Inc. in Cedar Park; LS Electric Co. Ltd. in Bastrop; and MGC Pure Chemicals America Inc. in Killeen."
Source: Austin Business Journal
Written by: Cody Baird
Published: September 5, 2024
Posted by Grossman & Jones Group on
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