The mixed-use development is proposed to feature two floors of office and retail space and 326 residential units with 766 total bedrooms.
Ed Theriot, a former city of San Marcos staff member who is now with ETR Development Consulting, the firm handling the height request, said the development will offer residents an opportunity to live a lifestyle "with a reduced dependency on motor vehicles."
The project, which is being developed by Casey Development, goes back to 2008. At that time the project was to include three stories. In 2009, the city approved two additional stories for the project. In 2012, P&Z approved an additional eight stories for a total of 13.
The 13-story project would have included 310 residential units.
Commissioner Curtis Seebeck said he was concerned about the number of amendments that have been made to the project since it was first brought to the city.
"My concern with this is this thing started in 2008 as a three-story building," he said. "Here we are eight years later at a 15-story building. In a year are we going to be asking for 17 stories? When does it stop?"
Dan Alexander, the architect handling the project, said the firm's goal is to be ready for residents to move in by 2017.
"To do that we need council approval [of the height request] in January," Alexander said. "To allow that timeframe to work, we need to be underway right now."
Kristy Stark, assistant director of Planning and Development Services, said the city has already begun predevelopment conversation with Casey about the project.
The property is currently valued at $635,890 by the Hays County Appraisal District. According to Theriot's estimates, the mixed-use project would be worth about $65 million when it is built. The property would generate more than $919,000 in property taxes annually for San Marcos CISD, more than $344,000 annually for the city of San Marcos and more than $276,000 annually for Hays County, according to his estimates.
The development is also proposed to feature 805 on-site parking spaces, of which 47 will be reserved for retail and public uses.
The height warrant will expire if the applicant has not applied for a site permit to begin construction within two years of the warrant's approval.
The request, along with P&Z's recommendation for approval, will go to City Council for discussion at a future meeting.