Development
BY GRACIE WARHURST
Georgetown City Council considered proposals for two in-city municipal utility districts at a meeting March 24. Rock Blu Ranch and Yearwood are both currently in the city’s extraterritorial jurisdiction and developer Freehold Capital Management is seeking annexation for both projects. The purpose of a MUD is to help a development pay for amenities and infrastructure improvements, according to city documents. By annexing the site within city limits, Georgetown ocials can help guide development to city standards. Diving deeper Rock Blu Ranch plans to build 2,375 homes on 855 acres west of Hwy. 195 and north of Ronald 2 developments seek annexation for 4,100 homes
reduced the house count to 1,728. Freehold Capital Management also removed a request to increase the number of age-restricted homes. Assistant City Manager Nick Woolery said building residential homes adjacent to an existing concrete plant and redeveloping a quarry site remain potential issues that will require ongoing monitoring. “This isn’t anything that they could have resolved today,” Woolery said. “We don’t foresee any safety issues at all.” What they’re saying “By us working with [the developer], they will annex into the city, pay property and sales tax, pay impact fees, and be served eciently by our city police service,” Mayor Josh Schroeder said in a Facebook post March 27. “They will also develop at a very high standard with quality homes that will be an asset to our community.” What’s next City sta will bring the proposals back to council for approval of annexation and development agreements at a future meeting.
Reagan Boulevard, according to city documents. Developer Freehold Capital Management requested about 700 homes, or about 32% of the lots, be age-restricted. Because this is higher than the city’s development standards maximum of 10%, council members must grant special approval for it to move forward. Rock Blu Ranch proposed a maximum MUD tax rate of $0.65 per $100 of assessed value, higher than the city’s MUD policy requirement of $0.55 per $100. What else? South of the proposed Rock Blu Ranch sits the Yearwood MUD, located at the intersection of Rattlesnake Road and Ronald Reagan. The location is currently an active quarry site designated for mining. Following an initial proposal to council members in February, Freehold Capital Management reduced the maximum MUD tax rate from $0.75 per $100 down to $0.65 per $100, and withdrew a request to phase in wastewater impact fees. In response to density concerns, the developers removed the two smallest lot options, which
Rock Blu Ranch plans include: • 2,375 homes • 17.2 acres of private amenities • Neighborhood trails • 5 acres for a Georgetown ISD elementary school
Yearwood plans include: • 1,728 homes • 7 acres of natural lakes • 12.2 acres of public parkland • Trails running along Berry Creek
195
BERRY CREEK
Rock Blu Ranch
Yearwood
Rock Blu Ranch plans to bring 2,375 homes on a previously undeveloped site west of Hwy. 195 and north of Ronald Reagan Boulevard.
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SOURCES: CITY OF GEORGETOWN, FREEHOLD CAPITAL MANAGEMENT COMMUNITY IMPACT
© GOOGLE EARTH
COURTESY FREEHOLD CAPITAL MANAGEMENT
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