A Dallas-based real estate and development firm is poised to bring an array of much-needed housing to Central Texas. RREAF closed on 3,173 acres between Caldwell County and plans to create a master-planned community there, the Austin Business Journal reported.
Some 4,000 to 6,000 single-family homes, 3,000 multifamily units and 2,500 built-to-rent houses are planned. The community also will have retail space, restaurants, hotels, offices, health care facilities, industrial sites, trails, outdoor event spaces, fitness centers and schools.
The future subdivision is at the intersection of State Highways 130 and 80, southeast of the busy and increasingly populated I-35 corridor between Austin and San Antonio. Like most of the state in the past decade, Central Texas has had a growing economy and experienced the explosive population growth that came with it. As demand has outpaced housing supply, smaller cities and towns near the planned community — particularly Kyle, San Marcos and Lockhart — have started to become de facto suburbs of Austin.
RREAF will build the multifamily and built-to-rent homes in the development. It will seek outside builders for the single-family homes. It hopes to break ground during the second quarter of 2023 and deliver the first homes in the first quarter of 2025.
[ABJ] — Cindy Widner
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