The land BGS formerly occupied composes approximately 4 acres, located at the southeast corner of Bagdad Avenue and South Mays Street.
After City Council worked with the industrial company to find a new location, the city started to look for developers that would bring a new look to the downtown area.
"It's been a long time getting the industry use out of downtown and making room for something really interesting," Mayor Alan McGraw said.
Two years ago, Round Rock received three formal proposals for how to develop the land: for multifamily use, as a placeholder for future redevelopment, or for urban townhomes.
In June 2016, the council entered into an agreement with a townhome developer, InTownHomes.
At Thursday's City Council meeting, the council unanimously approved a real estate deal that would have the city sell the land to Round Rock Transportation and Economic Development Corporation for $2.1 million, which was the price the city purchased the land for initially.
Then, the corporation will sell the land to InTownHomes, Ltd. for $425,000 in three separate tracts of land, to be sold as the site goes through development.
The council agreed to pave the way for future development of The Depot Townhomes with additional economic incentives.
The townhomes would have a modern exterior and would be located near downtown Round Rock.[/caption]
In the council's approved agreement, it decided to waive any development fees, up to $925,000, construct extensions on McNeil Road and Lampasas Street, vacate portions of East Bagdad and reimburse the developer for the reconstruction of East Bagdad Avenue.
Director of Planning and Development Brad Wiseman said McNeil Road would be designed to carry more traffic than it does today to accommodate the additional residents.
Mayor Pro Tem Craig Morgan said the council should continue monitoring nearby intersections to ensure traffic patterns are not significantly altered as a result of the townhomes.
In the agreement, the developer agrees to foot the bill for any water or wastewater upsizing and to construct and maintain off-site retaining walls. The developer would also pay the fees the city agreed to waive, should the promised 70 units not be finished within seven years.
The council also approved a zoning change that would make some changes for the townhomes, switching the zone from Mixed Use Historic Commercial Core to a more specific Planned Unit Development zoning. It will permit townhomes up to four stories tall with the potential for commercial units on the ground level.
Wiseman said bars and restaurants will not be permitted in the new zoning. Instead, he said commercial use would likely involve lower-impact businesses, such as a yoga studio or boutique.
Each unit will have a private alley behind the building with a two-car garage per unit. The buildings will be finished with brick or natural stone with balconies, rooftop patios and large front windows.
Because the townhomes will be located so close to a train track, the developer would soundproof the building with thicker walls than is normally required.