Austin Business Journal writes, "Georgetown, recently crowned the fastest-growing U.S. city of over 50,000 people for the third year in a row, is getting a new housing development encompassing more than 300 acres.
The Georgetown City Council on May 28 approved the creation of a municipal utility district for Ragsdale Ranch, a housing development that would see more than 1,000 homes rise just a few miles north of Liberty Hill's Santa Rita Ranch — itself one of the fastest-growing neighborhoods in the metro.
Ragsdale Ranch is being developed by HK Ragsdale LLC, according to the meeting agenda, with Paul Kuo listed as the developer contact. According to his LinkedIn profile, he is a managing partner at HK Real Estate Development, a San Antonio-based development firm focused on bringing affordable residential lots to the I-35 corridor between Austin and San Antonio.
Kuo didn't immediately respond to a request for comment.
Ragsdale Ranch is situated on roughly 336 acres along Farm-to-Market Road 3405, about one mile east of Ronald Reagan Boulevard. Development of the MUD would take place across six phases, with the first consisting of 204 homes, according to a development summary. Future phases would consist of 94 to 282 homes each, for a total of 1,161 homes at completion.
The three planned lot sizes at Ragsdale Ranch are 6,000, 7,200 and 8,400 square feet. In addition to residences, the project will have roughly 17 acres of parkland, 32 acres of “passive open space” and an amenity center.
It's unclear if any homebuilders have purchased lots within Ragsdale Ranch.
Georgetown is in need of new homes. For the past three years, the Austin suburb came in as the fastest-growing city of at least 50,000 people, according to U.S. Census data. Georgetown's population reached 96,312 as of July 2023. That's a gain of roughly 9,250 people from the same month of 2022, or a 10.6% growth year-over-year increase.
Homebuilders have been reaping the benefits of the city’s growth. On the Austin Business Journal's latest list of the area’s fastest-growing neighborhoods, Georgetown stood out with four on the list. Additionally, the second-fastest growing neighborhood, Liberty Hill’s Santa Rita Ranch, is located just a 3.5-mile drive south of Ragsdale Ranch."
Source: Austin Business Journal
Written by: Cody Baird
Published: June 6, 2024
Posted by Grossman & Jones Group on
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