11th Jul, 2010

Huge Master-Planned Development SE of Austin Real Estate

One of the largest developments of Austin TX real estate is moving through the approval process:  Cherryville.  Within a couple of years, Cherryville’s convenient new homes in Caldwell County, on the site of former Texas ranches, will ease housing and job strain in the area.  Caldwell County is located 15 miles southeast of metropolitan Austin Texas real estate.

The central location in the Texas Triangle near Austin between homes in Lockhart and Luling, and San Marcos TX homes makes the site desirable for educational, medical, and industrial facilities as well as homes at varying price points.  A study by Texas A&M University targeted the area to be the nation’s fourth-largest region for population growth over the next 25 years.

The mixed-use development south of Lockhart at the intersections of Highways 80 and future Highway 130 is moving through the approval process in Caldwell County.  As soon as the new Highway 130 reaches the site at the end of 2010, construction will begin on the huge master-planned community.  Developers plan to begin with a large industrial park to house a light-manufacturing industry and employ hundreds.

The plans for Cherryville include the phasing in of 4,000 single-family homes, 3,900 multifamily units, 280 garden homes, 1,270 senior living units, 2 hotels with a 70,000-square-foot conference center, a million square feet of retail and 2 million of office space, medical office space, a satellite campus for a university, a hospital, elementary, middle, and high schools are included.  The developers are also setting aside 650 acres of landscaped area, parks, and trails.

Although the developers are not planning to incorporate, the state legislature has already granted the development Municipal Utility District (MUD) status.  This allows financing through bond measures in a tough economy.  The project’s engineer told the Austin Business Journal that the developers are also working with the Tri-community and Maxwell Water Supply corporations and smaller providers to obtain water resources.

Developer Ron Cherry of Dalcan Investments Ltd. Told the Real Estate Center Online News and Austin American-Statesman that he and business partner Jonathan Wener, CEO and chairman of Montreal-based real estate and development firm Canderel Corp, “have proposed a 3,200-acre development that will bring a small town’s worth of homes, offices, retail and industrial space into Caldwell County.”  Dalcan acquired the land in early 2007.

Over the next couple of decades, Cherryville slowly emerge.  It may change its name during the process.  Nonetheless, the small city is poised to offer more homes, more jobs, and a community lifestyle.

For more information about relocation and real estate in the Hill Country, click here to contact Dale Cook or call 830-997-1035.

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