After months of deliberation, K29 1941 Investments and the city of Liberty Hill have reached an agreement that will allow the development of a 140-acre mixed-use project at the intersection of Ronald Reagan Boulevard and Hwy. 29.

About the project

The proposed project is a blend of mixed-use development featuring retail and commercial components stretching across the northwest and northeast corners of Ronald Reagan and Hwy. 29.

In the near term, a 50-acre commercial piece is planned for development, while the rest is undetermined, said David King, K29 1941 Investments’ lawyer, during a January City Council meeting.

Ed Horne, Santa Rita Ranch development manager, said the proposed project will be connected to the Santa Rita Ranch neighborhood.

Remember this?

Back in November, K29 1941 Investments submitted an application to the city claiming “vested rights” regarding the proposed mixed-use project. Typically referred to as “grandfathering,” vested rights allows an entity to continue a development project that was adopted under a municipality’s previous regulations.

Stakeholders with K29 1941 Investments were ready to move forward with the project and requested to be “grandfathered in” under 2005 regulations, a city official said.

During the March 13 meeting, Liberty Hill council decided to accept the project owners’ appeal for vested rights under the 2005 development agreement.

Next steps

Further information on the project is not yet available; however, Horne said the developers will now be working on a comprehensive plan for the proposed development.