Austin Business Journal reports, "a 570-acre community may be coming to the Elgin area with more than 1,800 single-family homes, hundreds of multifamily units and nine acres of commercial space.
A little-known company called Blossoms Development has proposed Lund Farm off State Highway 95, north of Elgin. The company wants to have a diversity of home types and prices, according to a public presentation posted online by the city of Elgin. It also aims to create a walkable neighborhood that leverages the natural features of the site by using floodplains as amenity space and restoring historic blackland prairie.
In addition to the single-family homes, Lund Farm could have nearly 650 multifamily units, plus parks, an amenity center and a possible public safety facility.
If it's built, Lund Farm could add housing and shopping options in a mostly rural area on the northeast side of the Austin metro — but one that could be in line for substantial growth, given its location between the Tesla Inc. factory operating in eastern Travis and the Samsung Electronics Co. Ltd. plant under construction in Taylor.
"It seems most future expansion of Austin will move eastward due to topography, land conservation, environmental constraints, and water accessibility constraints west of Austin," the Lund Farm presentation noted.
Not much is known about the developer. Public registration documents suggest it is tied to New York-based Blossoms L&Y Development LLC. A website for Blossoms Development lists an Elgin address and points to past projects such as two single-family homes in New York and two large, mixed-use developments in China.
The developer said it was too early to comment when reached by Austin Business Journal.
Landscape architecture firm TBG Partners and civil engineering firm BGE Inc. appear to be working on the project, according to the presentation given to the city.
The neighborhood would be in the unincorporated community of Lund, which was settled by Swedish immigrants in the late 1800s and has remained a primarily agricultural community.
To fund infrastructure, the project is expected to have a municipal utility district, which would need legislative approval. Lund Farm Municipal Utility District is not listed on the Texas Commission on Environmental Quality website.
Lund Farm Investment LLC, aka Blossoms Development, on Aug. 15 secured approval from Elgin City Council for a consent and development agreement.
The city framed the agreement as a way to enhance community benefits from the plan. It approved several stipulations during last week's meeting, among them: the developers agree that sales tax from the nine acres of commercial space will go to the city; the developer will pay $3 million in master development fees; the developer will contribute either $500,000 or a school site to Elgin Independent School District; it will donate two acres for a public safety facility; it will make the 100-plus acres of parks and seven miles of trails open to city residents; the developer will build streets, drainage and sidewalks to city regulations; it will provide funding for a new wastewater treatment plant and more.
Elgin City Manager Tom Mattis noted during the meeting that the developer doesn't need city agreements to move forward but that the deal helps both sides. Property taxes would go to the MUD, not the city, and Elgin would provide water services.
"They can literally build the same project without us," Mattis said.
In Bastrop County, Lund Farm Investment LLC owns two parcels totaling 541 acres that were valued for tax purposes at $403,146 in 2023, according to Bastrop County property records. It also owns four parcels totaling 28.5 acres in Travis County, with a valuation of $108,306, according to Travis County property records.
If the project comes to fruition, it would provide more housing and amenities for Elgin, which is located about 25 miles northeast of Austin and had an estimated population of 11,359 in 2022, according to U.S. Census Bureau data. A number of companies are moving or eyeing a move to the city, including Carr Lane Manufacturing Co., a specialized parts manufacturer; semiconductor supplier Yerico Manufacturing Inc.; Mosaic Housing LLC, a maker of manufactured homes; and OnePointe Solutions LLC, a custom laboratory furniture and industrial workbench manufacturer.
Other big housing developments include nearly 2,000 homes in Trinity Ranch from Plano-based Green Brick Partners Inc. and Colorado-based Century Communities Inc. and 2,500 homes from Texas Bridle Trails LLC for the Brickston community."
Source: Austin Business Journal
Written by: Justin Sayers
Published: August 22, 2023Posted by Grossman & Jones Group on