The master-planned community Prairie Lakes is coming to Hays County outside Austin after two years of negotiations with Kyle and Niederwald city councils.
Continental Homes of Texas, a subsidiary of Arlington-based D.R. Horton, the nation’s largest home builder, is behind the 1,000 acre project, according to Austin Business Journal. It will include single-family homes with a minimum size of 1,200 square feet as well as duplexes and about 20 acres of multifamily. The development will also have about 20 acres of commercial property, according to Jake Straub, land acquisition manager at D.R. Horton.
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Straub said commercial partners haven’t yet been locked in. “Commercial and multifamily become more marketable once rooftops are up,” he said.
Home prices will probably be at market rates and will span a range of budgets. The median home price in Hays County jumped 29 percent in December to $395,070 from the prior year, according to the Austin Board of Realtors.
The plot consists of two jurisdictions and has two reservoirs. A third is within the Niederwald and the rest lies within Kyle. Kyle City Council approved a development agreement for its side of the project on Feb 1.
Construction of the Niederwald side is scheduled to start this month. The developer plans to break ground on the Kyle side in about a year.
Considering the number of lots, it’s unclear whether D.R. Horton will be the only builder for the project.
[Austin Business Journal] – Maddy Sperling