In a nutshell
Council members approved a resolution July 1 that allows the city manager to execute a term sheet with One Longhorn Corporation and North Texas Natural Select Materials. If an agreement is reached, it will govern annexation, zoning and development of the property.
Michael Quint, executive director of Development Services, said city staff were approached by the property owners seeking to annex the property via a development agreement. The proposed term sheet outlines a maximum of 900 multifamily units and a minimum of 25 acres of industrial development.
The terms also include that residential uses will not be allowed within any area of the property that’s zoned for non-residential purposes.
“That is in direct response to some recent legislation adopted down in Austin,” Quint said.
Under the proposed terms, the developer would voluntarily annex and zone the property by no later than Nov. 4, 2025. After being annexed, the property will have access to the city’s water and wastewater system.
The property is already subject to an annexation agreement, Quint said.
“Ultimately, if we’re not able to come to a partnership agreement with the property owners we will move forward with annexation via that 2015 agreement,” he said.
The development agreement must be executed by Sept. 2, according to a city document.
