Cotton Gateway would consist of no more than 1,600 homes on 491 acres. SCREENSHOT OF CALDWELL COUNTY DOCUMENTS

Austin Business Journal reports, "the Caldwell County Commissioners Court unanimously approved March 28 a development agreement between the county and a subsidiary of Lennar Corp. for a neighborhood of up to 1,600 homes in the rural area south of Austin.

The development agreement will allow Lennar — one of the region's busiest homebuilders — to transform the 491-acre parcel into a large community of single-family homes, plus parkland and amenities, according to county documents. Cotton Gateway, as the development is currently known, would be a significant injection of new homes in Caldwell County, part of the region stretching between Austin and San Antonio that some experts believe will evolve into the state’s next metroplex.

The development will rise across the road from the San Marcos Regional Airport at State Highway 21 and William Pettus Road.

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

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

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

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

Lennar is also responsible for reimbursing Caldwell County for reasonable costs incurred in the Caldwell County engineer’s review of the development agreement within 45 days of receiving notice of such a cost.

Kimley-Horn is attached to the project as engineer.

Lennar is one of the more active homebuilders in Central Texas. The developer has another community in Caldwell County with sales underway, known as Summerside, as well as three communities in neighboring Hays County. Lennar reported selling 1,672 homes in the Austin area in 2021 for $628 million.

No pricing details were available for Cotton Gateway, but Summerside homes are listed online for around $330,000, and more widely in the Austin metro Lennar sells homes in the $200,000-$1.5 million range."


Source: Austin Business Journal

Written by: Cody Baird

Published: March 29, 2023

Posted by Grossman & Jones Group on


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