The development, named Lake Celestine, is 289.37 acres and proposes an average home price of $3 million to $5 million. The development will take place outside the city limits, Mikeska said.
Council members approved the creation of Municipal Utility District No. 213, which includes the proposed multimillion-dollar community, during an Oct. 28 meeting.
Plans for Lake Celestine call for 1,038 residential lots as well as lakefront restaurants, retail stores, live-work units, creative office space, a lakefront hotel and recreational amenities, according to the city’s Oct. 27 presentation.
Developed by Lovett Group, the residential component is slated to include cottages, 241 townhomes, courtyard homes, park houses and varying single-family lot sizes ranging from 3,500 square feet to a quarter of an acre, as well as 20-plus acres of multifamily space, Mikeska said.
“This is a very unique type of development,” she said Oct. 27.