What you need to know
Buda City Council approved the project’s development agreement and an ordinance establishing a tax increment reinvestment zone, or TIRZ, on Nov. 8.
The project, which is approximately 169.95 acres located south of Old Black Colony Road, is being developed by Meritage Homes of Texas and M/I Homes of Austin.
The Colony at Cole Springs will have roughly 530 residential units, and the developers will dedicate land for a future elevated water storage tank as well as reconstruct and realign portions of Old Black Colony Road and Cole Springs Road.
The developers will also construct a new bridge over Onion Creek connecting to FM 2770. Additionally, Meritage Homes of Texas and M/I Homes of Austin will construct a segment of the Onion Creek Trail system, according to a news release.
The impact
City officials said residents should expect construction-related traffic and are urging drivers to use caution in this area. Construction will be permitted from 6 a.m.-9 p.m. Monday through Saturday.
If construction continues or begins outside of permitted hours, residents can call the development services department at 512-312-5745.
