What we reported
Kyle City Council approved a development agreement with PGI Investments, LLC, for its 47-acre property at Yarrington Road and I-35 on Oct. 4. In 2016, the city considered turning the land into a large truck stop, but the proposal was struck down after residents voiced their concerns. Kyle will reimburse PGI Investments with $5.2 million to construct a new roadway through the property and install water and wastewater improvements.
According to Kyle City Planner William Atkinson, the property is currently in its preliminary plan and designs for lots, roads and detentions ponds are still being drafted. There are no potential companies lined up at the moment, but the intent of the project is to have a mix of restaurants, stores, hotels, office space, a gas station and an anchor department store, according to the development agreement.
Diana Blank-Torres, Kyle director of economic development, said Jan. 10 PGI investments is leaning toward building the infrastructure for the area and then selling the entire property at the starting price of $7 million.
This story is one update from The January Issue. View the full list of top 5 stories to follow in 2018 here.