The developer of Heirloom Georgetown, a planned 3,600-unit development near Williams Drive and Ronald Reagan Boulevard, requested adjustments to its public infrastructure financing at a July 28 City Council workshop.
The 620-acre mixed-use development will feature residential and commercial components as well as a future Georgetown ISD school site.
The setup
Under the original agreement approved in August 2025, the developer agreed to build a 2-mile road connecting Ranch Boulevard to Ronald Reagan Boulevard in the project’s first phase.
In exchange, Georgetown officials agreed to let the developer issue public bonds upfront to fund the $11.6 million road before construction began.
The request
Logan Kimble, vice president of land operations at developer Columnar Investments, outlined the requested changes to the development plan, which include expanding the upfront funding from $11.6 million to $16.5 million.
This funding would help Heirloom fund the construction of:
- The original 2-mile collector road
- Water and wastewater lines
- Public trails in a future city-owned park
- Two stormwater quality ponds
In order to fund the two ponds with municipal bonds, the city would need to assume ownership of them, rather than the standard private ownership by a neighborhood’s homeowners association. Kimble suggested the city defer maintenance of the ponds to the HOA.
The outcome
Council members agreed to increase the upfront infrastructure funding and settled on a $15.3 million amount to construct the road, wastewater lines and park trails. However, officials rejected the request to take ownership of the stormwater ponds.
“There are some risks,” Assistant City Manager Nick Woolery said. “We've had challenges with other ponds that didn't get transferred over correctly in the past and now are kind of sitting in limbo, which by default ... [the city is] involved at that point.”
Additionally, council members suggested that the developer dedicate land for a future fire station site and right-of-way along Williams Drive as a benefit to Georgetown taxpayers.
