Overview
The first option for the Stromberg development tract on CR 132 would split the land between both residential and industrial space. The plan calls for 742 single-family lots and 116 townhome units, while up to 2.8 million square feet would be used for industrial space.
Christian Villarreal, senior associate at Development Planning and Financing Group and representing WayMaker Ventures, said the first option with the project at full buildout would generate an estimated $3.1 million in tax revenue to the city and an estimated $9.4 million to Hutto ISD.
The second option for the project would exclude industrial space and designate the land for 1,335 single-family lots and 208 townhomes. This would generate an estimated $2.7 million in revenue to the city and approximately $8.2 million to the school district.
Both options would leave room for commercial and multifamily space as well.
“I’m a big fan of commercial and industrial [space] because it does generate jobs and generates the new tax revenue for the city,” said Place 6 council member Aaron King. “[I’m] not a real big fan of residential. We’re just inundated with residential right now.”
The update to council comes roughly a year after officials approved a planned unit development for WayMaker Ventures to establish housing and industrial space for the site.
“I think the preferred option is definitely the half industrial kind of piece, but again, it would be dictated by the market and we are going off what is approved in that PUD,” Villarreal said.
What else?
Seth Mearig, with Gray Engineering, said improvements to the area would include a north and south arterial road connecting to the East Wilco Highway.
“So this would give another conduit for traffic to move efficiently in and out of the city without sending a bunch of traffic across the railroad there,” he said.
The city would assume maintenance for the roadways, drainage and wastewater.
Council is expected to consider a financing agreement and ultimately whether to create the PID in the coming months.
