The overview
Prior to the creation of the 1604 Public Improvement District, city council unanimously voted to rezone the 22-acre lot from a B-2 business and office district to a mixed-use district, which allows for the construction of single-family residences as well as commercial and hospitality developments.
Caroline McDonald, a representative of the development company Bitterblue, said rezoning the lot to MXD is a required step if 39 townhomes are to be constructed.
Shavano Park 1604 Public Improvement District will include:
- 5.9 acres of retail space
- 3.2 acres for a hotel
- 5.5 acres of residential property
- 3.6 acres of recreational space
Design elements also include a dog park, tandem pickleball courts, three trailboards and 52 off-street parking spaces.
As an example of successful MXD districts, Shavano Park City Manager Bill Hill pointed to the Pond Hill Garden Villas as well as other properties along Loop 1604.
What they're saying
To ensure that there were no misunderstandings before voting on the creation of the 1604 Public Improvement District, City Council questioned Bitterblue about upkeep, property values and potential financial risks to the city.
Shavano Park Alderman Pete Miller asked Bitterblue representatives about maintenance responsibilities for the proposed green spaces.
McDonald said the green space and trails are an integral part of the project and upkeep will be divided between the 1604 PID commercial property owners association and the homeowners association, but how the costs will be divided has yet to be determined.
Mayor Pro Tem Konrad Kuykendall asked for an estimate on the length of time between breaking ground on the townhomes and selling 30% of the properties.
Bitterblue representatives said the length of time depends on the market, but they estimate that the process will take between 3.5-5 years.
Shavano Park Alderman Maggi Kautz questioned whether the townhomes will retain value.
Bitterblue representatives said the townhomes fill a need in the housing market and that they do not expect any issues with sales or property values.
By the numbers
According to city documents, the estimated property tax rate for the 1604 PID is $0.206283 per $100 valuation and is estimated to net $1.545 million in additional revenue for the city once it is fully built out.
