Construction could start during the first half of 2014 on two developments expected to bring hundreds of new homes to north Leander.
At the Dec. 18 Leander City Council meeting, developers of the 500-acre Caughfield property, which is just north of the San Gabriel River and east of US 183, presented plans to create a master-planned community.
David Gray, president of Gray Engineering, said the property located in Leander and Liberty Hill's extraterritorial jurisdiction is under contract to be sold to Milestone Community Builders.
"We are currently conceptual planning stage of this property," Gray said, adding that he plans to come back to city council with progress updates.
The developers plan to pursue the creation of a municipal utility district to finance infrastructure, he said.
"It will serve primarily as a financial vehicle to allow developers to develop the project and bring amenities and entitlements that sometimes you can't do if you don't have a MUD," Gray said. The developer will not request utility, water or wastewater services from the city of Leander, he added.
Milestone Community Builders President Garrett Martin said construction on the Caughfield property could start in mid-2014. The project calls for 1,400–1,500 luxury houses in the low $200,000 to $550,000 price range, he said.
Other Milestone neighborhoods include the Reserve at Brushy Creek and Scottsdale Crossing, both in Cedar Park.
At the meeting, City Council also approved plans to restart a 490-acre residential development—formerly called the Villages of Messina—in the northeastern portion of the city and within the Tax Increment Reinvestment Zone.
The TIRZ allows the city to reimburse the developer, Crescent Leander TX LLC, for certain costs related to infrastructure improvements. In part, the new contract terms state Crescent must contribute to the future improvements of San Gabriel Parkway and CR 270. Crescent is also expected to pay $1.5 million for improvements to the intersection of Toll 183A and US 183, according to the agreement.
Steve Yetts, senior vice president of Crescent Communities' residential group, said the developer plans to close on the sale of the property after Jan. 1 and expects homes will be on the ground in 2015.
"We are excited about helping promote growth on the north side of town," Yettes said. "Access to the toll road is huge for us as well, and look forward to partnering with the city of Leander and Williamson County to bring growth to this area."
In addition to the development agreement, council approved an ordinance allowing Crescent to establish a MUD to finance infrastructure. Yettes said the property would be built out within seven to eight years.
