Government
BY BEN THOMPSON
O cials OK The Square at Lakeway changes, incentive deal withdrawn
What they’re saying
During council’s discussion, some o cials ques- tioned the development team’s repeated changes to project plans since 2023 and years of delays. “My concern is just continual scope creep—that in a couple years the market changes again, we get a new PUD and the same valid argument for it, for a new PUD amendment ve,” Sherman said. “I’m done. I like it as it is.” Legend founder and principal Haythem Dawlett defended the project timeline so far, saying con- struction had been disrupted by economic condi- tions and unforeseen utility issues at the property. “When you move the utilities, it just doesn’t happen overnight. Everything else had to change, the plans had to be revised. ... That’s where we lost almost two years,” he said.
estimated one-year completion timeline for its rst phase, but construction has stalled. Development planning remains in progress, and the project team recently requested its fourth amendment to the PUD outline. Some changes sought by the developer weren’t accepted by council, like the addition of 44 for- sale or rental multifamily units and a decrease in required parking tied to housing. The approved updates keep the project within previously approved daily tra c limits. The Square’s fourth PUD amendment passed 5-2, with Mayor Pro Tem Louis Mastrangelo and council member Matt Sherman voting against.
Lakeway o cials approved changes to plans for mixed-use development The Square at Lakeway at the Jan. 20 City Council meeting, but held o on considering a proposed $47 million economic incentive package for the project. The 63-acre planned unit development, or PUD—formerly The Square at Lohmans—has been in the works at 1935 Lohmans Crossing Road since the 2010s. City Council approved PUD designation for the project in 2021, allowing for a mix of residences, o ce and retail, a new Main Street, and publicly accessible open space at the property. Austin-based Legend Communities formally broke ground on The Square in 2022 with an
Approved changes
Moving forward
Phase 2
Phase 1
Some changes to The Square at Lakeway PUD approved Jan. 20 included:
Council members were poised to weigh a $47 million economic development agreement in January, but it was withdrawn. The Chapter 380 agreement would have o ered a series of city tax rebates to the PUD developer to support the project. Mayor Tom Kilgore said the item could be considered later, and council is meeting Feb. 17, after press time, to discuss the city’s rst economic incentive policy. The Square’s residential construction is expected to kick o in 2026, Dawlett said, with Phase 2 starting in late 2027.
Requiring the new Main Street to be completed by Jan. 31, 2027 , later than the previous June 30, 2026 deadline Decreasing the project’s o ce footprint by 10,000 sq. ft. and increasing retail space by 72,000 sq. ft. Allowing slightly less parking space for commercial areas Reducing the project’s phasing from eight smaller portions to two main ones Requiring a majority of the project’s eastern Phase 1 to be completed within ve years , and western Phase 2 within 10 years
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SOURCE: CITY OF LAKEWAY COMMUNITY IMPACT
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