T.C. Selman, vice president of Aspen Heights Partners, said the new community will be company's first fully rentable single-family home community.
City Council initially approved the development Aug. 5 during a first reading of the plan and then again during a second reading Aug. 19.
"What it does, it allows individuals that are pushed out of market right now because of the high, high cost of purchasing a single-family home," Selman said. "It will give them the option to rent or lease a ... private home with a detached, full garage, private yard and all the amenities they would normally have."
Selman said his company is now working on platting the 36-acre parcel of land, and that plan will go through planning and zoning and other necessary city departments before moving forward toward construction.
Selman said the community, which will be located at 1616 CR 137, Hutto, will also be a viable option for people wanting to leave apartment complexes.
"Hopefully we'll get the project started in late spring or early summer of 2022," Selman said.
The neighborhood will consist of two-, three- and four-bedroom homes, but Selman said he cannot yet say what rental rates will be for residents because final costs will not be set until early 2022.
"We're looking at rents that will be slightly higher than a multifamily project will have," he said, but added residents will have no responsibility for any interior or exterior maintenance, including landscaping.
The addition of the Aspen Heights project is one part of an overarching initiative from the city of Hutto to diversify housing options for residents, said Stacy Schmitt, assistant to the city manager in Hutto.
"We want to make sure that as we're trying to work prospects and bring in these new businesses, that we have the right housing product for the people who may work in this manufacturing plant, or who may work for the East Williamson County Higher Education [Center]," Schmitt said. "So, we need that diversity of product."