Cotton Gateway would consist up to 1,600 homes on 491 acres, according to the development agreement. SCREENSHOT OF CALDWELL COUNTY DOCUMENTS

Austin Business Journal repots, "the Caldwell County Commissioners Court will consider March 28 the approval of a development agreement with Lennar Homes of Texas Land and Construction Ltd. to build a 491-acre neighborhood.

The single-family, master-planned community to be known as Cotton Gateway would be located across the road from the San Marcos Regional Airport at State Highway 21 and William Pettus Road, according to the meeting agenda, and would consist of up to 1,600 lots. The development brings with it a number of obligations for both Lennar and Caldwell County.

Florida-based Lennar Corp. (NYSE: LEN) did not immediately respond to requests for comment.

According to the development agreement, all single-family lots would be a minimum of 40.5 feet wide, except for cul-de-sac lots. No less than 20% of the lots would be a minimum of 50 feet wide, and no less than 10% would be 60 feet wide. All residences would have a minimum 30-foot building setback.

No less than eight acres of open space on the property would be dedicated to amenities, open space or parkland uses.

Lennar would also have the ability to include additional contiguous land in Cotton Gateway project, pending Caldwell County consent.

Lennar has another community with sales underway in Caldwell County, called Summerside, and three in neighboring Hays County, according to its website. Lennar sold more than $627 million of production homes in the Austin area in 2021, second-most in the metro after only D.R. Horton, according to Austin Business Journal research.

Much of the region's homebuilding activity is taking place in this rural part of the metro, part of the burgeoning Austin-San Antonio corridor. Demographics experts think this area will evolve into the state's next metroplex, with development stretching from the Texas capital to the Alamo City.

No pricing details were available for Cotton Gateway, but Summerside homes are listed online for around $330,000.

Caldwell County’s obligations include the approval of matters shown on the developer’s concept plan, which includes both major and minor amendments to the plan over the course of the project timeline.

Kimley-Horn is attached to the project as engineer.

Commissioners will meet at 9 a.m. in the second floor courtroom in the Caldwell County Courthouse, located at 110 S. Main Street in Lockhart."


Source: Austin Business Journal

Written by: Cody Baird

Published: March 27, 2023

Posted by Grossman & Jones Group on


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