The city will also consider a planned unit development, or PUD, public improvement district, or PID, and tax-increment reinvestment zone concurrently with a development agreement, according to agenda documents.
The TIRZ and PID would serve as a financing mechanism for the public improvements in the project.
The overview
The proposed project, located at 1100 E. FM 150, is being developed by Streamline Advisory Partners—a privately-owned real estate development and consulting company.
The Grove would consist of 65,000-square-feet of commercial space and a 15,000-square-foot grocery store, which developers identified as family-owned Marigold Market + Cafe.
"They're not an H-E-B or an Albertsons. This is a different type of grocer, but it's a full-service grocer that offers all of the food and it also has prepared food," Abigail Gillfillan, a principal planner and partner at Lionheart Places said.
The project would dedicate 1.5 acres to a park, featuring an indoor meeting space, playscape, covered sports court and pavilion. The Grove would also have 7 acres of trails in addition to 2 acres dedicated to the Vybe Trail, according to agenda documents.
The Grove would consist of up to:
- 400 townhomes and single-family homes
- 300 market rate multifamily homes
- 350 affordable multifamily homes
Developers plan on bringing water and wastewater services to the region by extending and upsizing the city’s wastewater lines by about 0.7 miles and building an elevated storage tank and pump station at County Line Special Utility District, according to agenda documents.
They would also construct about 0.8 miles of Goforth Road and two roundabouts located at FM 150 and CR 158.
Offering input
Council member Miguel Zuniga said he thought the grocer was on the smaller side, and would like to see the retail portion of the project constructed before issuing a certification of occupancy for the multifamily housing.
“I want to see the whole road built—not a piece of it,” Zuniga added.
Council member Lauralee Harris said she would like to see water recapture incorporated in the development’s retail and housing structures.
Council member Michael Tobias said he was concerned about the 400 multifamily homes being built near FM 150, noting that with two cars for each home would bring at least 800 cars traveling along that roadway.
“I know the traffic there, and that’s [going to] be a big concern,” Tobias said.
Looking ahead
The city will continue discussions with developers. A definite timeline for the development has not been determined yet.
