It’s another tequila sunrise. Or maybe it’s a place to live in the Austin suburb of Hutto.
A residential subdivision in Hutto will be named Atanasio after the Mexico-based tequila brand owned by the developer’s CEO, Francisco Perez. The Atanasio Ranch will be one of Campo Azul Development’s first projects after the company bought multiple tracts around north Austin, according to the Austin Business Journal.
In addition to Tequila, Perez and his wife owned Hutto-based PereDel Precision Machining LLC for two decades before selling it in September 2020. Now their eyes are set on real estate development.
“We had a goal that one day, when we retired from that business, we were going to start this one,” Perez said. “We’ve been working on it for almost a year, and it’s becoming a reality.”
The developer bought around 35 acres in Hutto and Taylor, not far from the planned Samsung factory sites on the east and west sides. The new developer also owns an eight-acre lot just across the street from the proposed site of Atanasio Ranch, where it plans to build an open-area mall.
The design of Atanasio Ranch is inspired by the Spanish Guadalajara agave fields the tequila comes from, the company said.
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The plans include 45 single family homes starting at $595,000 and 54 condos at $495,000. The homes will average about 2,100 square feet and the condos will offer about 1,850 square feet of living space, according to preliminary plans.
“We think Hutto is going to benefit more from this growth as it consolidates more middle- and-upper class residential, where Taylor is likely going to be more light industrial,” said JC Williams, Campo Azul’s director of investments.
The city of Hutto has become a rising star in the central Texas housing market. As of February, the submarket saw about 2,100 new permits, plus 5,000 more in the platting phase. On the rental side, the city had approved zoning for more than 4,000 rental units. City officials predict as many as 20,000 new residents will likely move to the city in the next five years.
The project is still in the early stages of the entitlement process, which developers expect to last about six months. A groundbreaking could happen this fall depending on how quickly the project moves through the development process.
[Austin Business Journal] – Maddy Sperling