Development
BY JACQUELYN BURRER
BY SIERRA MARTIN
Phase 1 of Sendero mixed-use development breaks ground in Bastrop
Council approves bonds for Valverde master-planned development
The big picture
Bastrop City Manager Sylvia Carrillo- Trevino said the increase in the reimbursement cap, now set at $12.3 million, was due to legal and administrative costs tied to the PID and its delayed bond issuance. “Everybody sees the dirt moving,” Carrillo-Trevino said at the April 8 meeting. “We had negotiations with the multifamily component at the very front in terms of the rates they were subject to pay that did not quite align with our ordinance ... we delayed the issuance they advertised, there were legal fees ... so the total bond amount moved.” As development continues, more agreements and bond issuances will come before the City Council for approval as future improvement areas are built out.
Bastrop is one step closer to having access to more dining, retail, hospitality and wellness options after the groundbreaking of Sendero, a 75-acre mixed-use development. On April 10, Pearl River Companies developers, members of the Bastrop Chamber of Commerce, and local o cials celebrated the groundbreaking of Phase 1 of commercial and retail development at the intersection of FM 969 and SH 71. About the project Mason Mote, a Bastrop native and co-founder and managing principal at Pearl River Companies, said he has put his “heart and passion” into the development. “I hope that when you look at some of the ren- derings, you can see what we’re doing,” Mote said. “We’re really trying to create something special.”
Once completed, Sendero’s conrmed dining options will include a Chuy’s, Jersey Mike’s, Einstein Bros. Bagels, and a Texas Roadhouse, according to Pearl River Co. representatives. The development includes Alta Trails multifam- ily apartments, a hotel and 90,000 square feet of businesses centered around health and wellness. Zooming in “For the city of Bastrop, it’s more than restau- rants and rooftops,” Mayor Pro Tem John Kirkland said. “It also means new jobs. It means tax revenue. It’ll help fund our parks, our streets and our city services.” Phase 1 of the commercial and retail project is anticipated to be completed by the fourth quarter of 2025, according to Pearl River Co. representatives.
During its April 9 meeting, Bastrop City Council approved three items tied to Improvement Area No. 1 within the Valverde Public Improvement District, or PID, which is a 410-acre residential housing development located near FM 969. The bond issuance of $11.9 million helps pay for public improvements and infrastructure in the developments, including streets, water, parks and drainage systems. The city approved the creation of the PID on March 9, 2021, originally under a dierent name of NEU Community Bastrop. Valverde is a master-planned community that will include 1,399 single-family homes and 250 townhome rental units. Improvement Area No. 1, the portion covered
Valverde
Valverde by D. R. Horton
O cials from Pearl River Companies and the city of Bastrop celebrated the groundbreaking April 10.
SIERRA MARTINCOMMUNITY IMPACT
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under the newly approved PID items, includes 352 single-family lots and 250 townhomes planned on the east side of the development, according to city documents.
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BASTROP 739 State Hwy 71 (512) 308-0250
ELGIN 1100 US-290 (512) 285-2741
GIDDINGS 1920 E Austin St (979) 212-4031
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