Austin Business Journal reports, "Lakeway City Council must decide whether to rezone a 33.9-acre tract and clear the way for a largely residential community in the city.
At an Aug. 2 meeting, Lakeway’s Zoning and Planning Commission voted unanimously to recommend the rezoning to Council. The proposed change would see the tract switch from single-family temp zoning to a planned unit development, according to the meeting agenda.
Housing developer Cascade Homes LLC made the rezoning request for the Balcones Point PUD on behalf of the property owners, the MB Winborn Trust and Gregory & Kenneth Winborn Irrevocable Trust.
It was not clear when Council could vote on the rezoning. It typically meets on the third Monday of each month.
If built, the Balcones Point PUD could have 130 homes and two multi-tenant retail buildings on the hilltop property at 2811 Ranch Road 620 South. The residences would be attached homes with three- to four-bedroom floor plans and an average size of 1,800 square feet.
The retail component of Balcones Point would total about 9,000 square feet and rise directly adjacent to RR 620, Cascade Homes President Brian Crittendon wrote in the rezoning application.
Lakeway has received 22 inquiries and proposals for the Balcones Point PUD property over the years, according to the meeting agenda.
In his letter, Crittendon wrote that the property is one of the last remaining undeveloped sites in Lakeway, west of Austin near Lake Travis. In 2022, a developer presented plans to develop 200 residences in multi-unit structures on the site, representing a denser plan than what's currently proposed by Cascade Homes.
"The lower density of the Balcones Point PUD plan provides for a healthy transition from the estate-sized lots in the Far Vela Estates neighborhood down towards the commercial corridor along Ranch Road 620," Crittendon wrote. "Finally, the inclusion of a commercial component would help facilitate the City of Lakeway’s goals of diversifying the tax base and would align with the Future Land Use Map which designates the Property as Mixed-Use."
Cascade Homes is an Austin-based "vertically integrated investor, developer and builder of housing communities," according to its website.
The proposal would injected more housing into a small but growing enclave in western Travis County that has seen its population climb from 11,391 in 2010 to an estimated 19,429 in 2022, according to U.S. Census Bureau numbers. That was an increase of more than 70%. Median household income was $142,566 in 2021.
The new community would be served by the Flintrock wastewater treatment plant, which is being expanded in order to give it capacity to serve more homes."
Source: Austin Business Journal
Written by: Cody Baird
Published: August 7, 2023
Posted by Grossman & Jones Group on
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