Elgin City Council on May 7 green-lit Qualico Communities’ 271-acre Triada master-planned community. QUALICO

Austin Business Journal shares, "A real estate developer has secured approval to build a 272-acre master-planned community near Elgin called Triada, potentially bringing 875 homes to the area as well as a park and sports complex.

Pflugerville-based Qualico Communities — a subsidiary of Canada's Qualico — on May 7 won approval from the Elgin City Council for a slew of agreements to help with the project north of U.S. Highway 290 and west of County Line Road northeast of Austin.

Representatives of the company said in a May 8 announcement that the development will offer a range of housing options, along with a 6-acre amenity center with a fitness facility, resort-style pool, playscape, shade structure and two pickleball courts. It also will have 55 acres of open space, nearly four miles of trails and a sports complex with baseball and soccer fields, as well as other sports facilities, that will be turned over to the city of Elgin.

Construction on the project is expected to begin this fall, with the first lots expected to be available in the summer of next year and the first homes delivered by the end of 2025, according to the announcement. The development will be built in six phases, with the amenity center expected to be completed by 2026, and the sports complex by 2027. Full buildout is expected by 2031.

"Triada represents our commitment to providing thoughtfully designed communities that enhance the quality of life for residents while respecting the heritage and natural resources of the land," Qualico Communities President Kevin Fleming said in a statement. "We appreciate the support of the Elgin City Council, and are eager to move forward in creating what will be an exceptional community for Elgin’s current and future generations."

The Triada project is located outside of the city limits of Elgin, which has a population of about 11,000 and is about 25 miles northeast of downtown Austin. The council gave its consent for the developer to form a municipal utility district to be used to fund infrastructure and other resident services. Developers still need approval from the Texas Commission on Environmental Quality and said they plan to seek it by the end of the month.

Because of its location, the city doesn't have full regulatory control over the project. But the council voted to approve various agreements with Qualico Developments US Inc. to regain more. That included a development agreement and wholesale water and wastewater service agreements, as well as a deal to move a parcel previously earmarked for the Eagles Landing development into the Triada site.

Elgin City Manager Tom Mattis noted during the meeting that the site of the project will not be annexed, meaning the city wouldn't collect things like property taxes. But the agreements create a strategic partnership that will allow the city to recoup some benefits while providing only some city services, such as park maintenance.

Other benefits for the city include a portion of sales taxes garnered at the project, a $175,000 donation for public schools, $1.5 million in master development fees, some land for public safety and the 15-acre park that will be turned over to the city. In return, the city would provide wholesale water and wastewater services, but the MUD would be on the hook for the costs of infrastructure improvements.

"It is a very unique project," Mattis said, adding that the developer, city staff and various boards and commissions worked to come up with a plan for the park.

It follows a trend of other projects in Elgin's outskirts being built using municipal utility districts, such as the 570-acre Lund Farm development or the 280-acre Briarwood development. Mattis said more than 10,000 homes have been planned for the area, using MUDs adjacent to the city.

Those projects have created a "high bar" for future developments, Mattis said.

"We continue to raise that competitive bar for future developers, so that's what's reflected in this" Qualico development plan, he said. "It's a good project and they're ready to move forward.""


Source: Austin Business Journal

Written by: Justin Sayers

Published: May 9, 2024

Posted by Grossman & Jones Group on


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