Real Estate

, Step into the 21st Century only five minutes away from the sixth stop on the Home Tour in your motorized buggy ride to experience the master- planned community of La Cima in the Texas Hill Country, hailed by Forbes magazine as the “next great metropolis.” Spanning over 2,400 acres, La Cima offers distinct new home designs with Hill Country views by a distinguished line-up of builders. The Perry Home and the Highland Home in La Cima will be the final two homes on the 47th annual Home Tour hosted by the Heritage Association of San Marcos. While the theme...

BUDA — At the April 16 meeting, Buda City Council tabled a proposed development agreement for a 98.96-acre residential development, known as The Reserve. This comes after the council postponed the project at an earlier meeting on April 2. Located between Cole Springs Road and Old Black Colony Road, the proposed development would have more than 230 single-family lots, parkland and open space. Along with the development agreement, a municipal utility district (MUD) and annexation request are also being considered. Developers for The Reserve have filed a petition with the city, seeking the creation of Buda MUD No. 2 in accordance with state law to finance infrastructure related to the development, according to agenda documents. MUD financing would allow for the following major enhancements, according to applicant Elliott Jones: • Cole Springs realignment and extension to FM 1626 and the North/South Collector: $10,504,585 • 8.6 acres parkland greater than code ($645,000 at $75K/acre) • Trails and parkland improvements: $706,238 greater than code • Density (2.3 homes/acre); Executive Housing “This MUD is a financing vehicle. We're using it to absorb as much of the cost burden as we can to construct this infrastructure,” Jones said. “However, being mindful of the tax rate our consumer will pay, since buyers tend to purchase based on payment, and taxes are a component of the payment, we're cautious not to set that tax rate too high either.” The MUD has a proposed tax rate of $0.75 per $100 of assessed valuation. The development agreement caps the total bonds issued to $25.2 million, unless otherwise approved by the city council, according to Jones. “Of course, the city can dissolve the MUD at any time it determines it is beneficial to the city and the city would then assume any remaining debt,” Jones continued. “Since this project is already in the city limits and paying city taxes, presumably the city would not dissolve the MUD until the debt is paid off, but once it is, that is kind of the anticipated fade of the MUD that it would be dissolved and there would no longer be a MUD tax.” Another component of the project includes project right-of-way acquisition costs, which according to city manager Micah Grau, are between $500,000 and $700,000 out of the project’s total cost of $34 million. Council member Matt Smith questioned if the developer would be able to pay for the right-of-way acquisition. “We throw all these numbers out. This gets really frustrating because one number we never see is the margin … We throw all of our numbers, everything is above board, the taxpayers pay for it [and] we bend over backwards for these projects. They are beautiful projects, by the way, never had a problem with that,” Smith said. “It’s exactly what we asked for, except when it comes to one piece of it, which is a sticky wicket, that is the city comes in and says we are going to condemn or eminent domain, or use whichever phrase you want to use, and acquire it. That’s when you guys say, ‘No, no, $500,000-$700,000 is too much on a $34 million project' where we don’t know what your margins are, if you can afford it or can’t afford it.” “I know why you want to avoid it, same reason why we want to avoid it. I just think that, at minimum, you guys could at least pay for it,” Smith continued. “I mean it's part of the project. I don’t understand that part.” Jones responded: “I can’t fund it. It’s just the bottom line. I showed this to council at the last presentation. The financing is a percent of the budget for Colony compared to Reserve, you might recall that. Colony is 55%, this project is 48%. Ultimately, there is a breaking point with everything. We are putting as much cost on a project with 233 lots as we can. It would require increasing a tax rate or being part of the TIRZ, and I don't want to increase the tax rate, and I don't think the city wants to include us in the TIRZ.” The council tabled the proposed development to continue negotiations with the developer about the right-of-way acquisition. The Reserve will come back to the city council at its next meeting on Tuesday, May 7. To listen to the full discussion, and view the agenda documents, visit bit.ly/4aK9ibr .

Sendora Trace Apartment homes celebrated its grand opening and ribbon-cutting April 16. (Sierra Martin/Community Impact) A new 399-unit multifamily apartment complex in San Marcos is wrapping up construction. Sendero Trace Apartments, located off of I-35 near the Tanger Outlets, began leasing in March and celebrated its grand opening April 16.

The number of homes under contract this March in San Marcos decreased by about 28% compared to March 2023. (Courtesy Pexels) The most recent data compiled by the Four Rivers Association of Realtors showed median home prices in Kyle and Buda decreased slightly year over year from March 2023 to March 2024. In San Marcos, however, median homes sales prices increased nearly 6.1% to $350,000.

Kindred Uncommon will offer one - and two-bedroom units equipped with washer, dryer, dishwasher and refrigerator. (Courtesy KRDB) High interest rates have put a pause on downtown Buda development Kindred Uncommon—a "pocket community" tailored to individuals 55 and up. The Kindred Uncommon team had plans to break ground in...

Here's the latest on Southwest Austin and Dripping Springs real estate data from the Austin Board of Realtors. (Community Impact staff) Data from the Austin Board of Realtors points to a mixed bag of number of homes sold, median sale prices and average days on market year over year for March in the Southwest Austin and Dripping Springs market.

, Built in 1908, the Joyce – Hansen home is a craftsman bungalow with railings and window trim that add classic Victorian touches. After over 115 years, it stands as a proud testament to quality craftsmanship and design. Its original owner, The Reverend William Joyce, was in his seventies when he built his beautiful home on the Burleson Street hill behind the Coronal Institute. The location was fitting considering Joyce’s background. During the war between the states, Joyce, like most men in Texas during that time served in the Southern Army. But instead of carrying a firearm during the conflict, he...

Anthem is a large, master-planned community on the west side of Kyle, Texas. Cathy Sanders, Online Sales Director for Scott Felder Homes in Anthem, spoke with Studio 512 about what sets Scott Felder Homes apart. What sets Anthem apart from other communities in the Austin area?. “Three things: location, community...

BUDA — On Tuesday, April 2, Buda City Council voted unanimously to deny a development agreement between the city of Buda and Buda Venture Real Estate. Following an approval recommendation by the Planning and Zoning Commission (P&Z), the council heard a presentation by Development Services director Angela Kennedy and representatives of the suggested development, West Oak. West Oak, which was proposed to be located on the west side of FM 1626 at Cole Springs Road in Buda, is a 600-unit multifamily apartment complex with between 100,000 and 120,000 square feet of commercial space. Additionally, Buda Venture Real Estate proposed six acres of publicly accessible open space, which would be privately maintained, two public roads, a north-to-south connection along the west property line and $7 million in traffic improvements to the area. Prior to the council meeting, on March 26, P&Z voted 4-2 to recommend the project to council, with Jim Ladner and David Nuckels opposing. Following the presentation to council, a public hearing was opened, where numerous residents took to the podium to request denial of the project. “This is the most disingenuous, dishonest, inappropriate project I have ever seen in Buda, Texas … ‘No negative impact on traffic,' seriously? That’s over 4,000 trips a day,” Ladner said. “These guys live out of state. They are going to take the money and they are going to run. All the infrastructure they are going to provide, the damage they are going to do is going to be a thousand-fold.” “Being on the P&Z, I have bever been more suspicious of a vote … I’ve been on the losing ends of votes … but these guys had access to us for over a week, one-on-one with a team of people,” Ladner continued. “I don’t like the fact that they can lobby us individually with a team of people to come out and basically peer-pressure us into saying ‘Yes.’” “I am pro-development, but it has to be sensible development. It has to work; it has to make sense. This project doesn’t make sense,” said Matt Debow, a Buda resident for more than 15 years. “My favorite part about Buda is that it does not feel like a big city … Buda is starting to feel like a big city, I don’t like that. I want to feel safe,” said 12-year-old Addison McNeight. “I have a few concerns and one of them is the traffic … I’m 14, so I’m going to be driving very soon and it kind of scares me how heavy the traffic is going to be,” Nathan McNeight said. P&Z member Virginia Jureka voiced her concerns as well, “Unfortunately, I was not here that night when this project was presented, otherwise I would have been the third vote against because this is not what we signed up for. We have a big sign on the water tank that says, ‘Breathe easy here.’ It’s getting harder and harder to breathe in this town.” Resident Tommy Seargeant spoke in favor of the development. “The tax revenue that this project will generate will help the schools and the county and the city. Just, overall, I’m in favor of it.” Following a discussion in executive session, council reconvened and voted unanimously to deny the project and take no action on associated annexation and zoning change items. To listen to the full discussion, visit bit.ly/3xC0CoR .

Preliminary property appraisals show that residential values have dropped across almost the entirety of Hays County over the last year, but the drop in average property values has been offset by substantial new residential and commercial construction. The new construction caused a significant increase in the overall market value of all property across the county. “The driving forces of property value are both economic and population growth,” Hays Central Appraisal District Chief Appraiser Laura Raven said. “As the population rises so does the demand for services, development, and employment opportunities. New improvements added to the roll contributed most to the total...

Hays County residents will soon be receiving appraisal notices from the Hays Central Appraisal District who scheduled the mailing of its 134,174 appraisal notices for April 5. According to a press release from the district, the Hays County real estate market is experiencing significant growth, particularly in commercial and industrial sectors, as well as in residential single and multi-family properties. The overall market value of Hays County’s 2024 preliminary appraisal roll rose to $72.10 billion, an increase of 8.1% from the previous year. New improvements as of January 1, contributed over $4.62 billion in market value. These improvements included 3,987 new homes and...

KYLE – CTC Residential will begin construction next year on an unnamed mixed-use project with multifamily housing and retail. The project will bring 384 apartments with 27,500 sf of restaurant... KYLE – CTC Residential will begin construction next year on an unnamed mixed-use project with multifamily housing and retail....

SAN MARCOS, TX - Helu Capital is thrilled to announce the successful acquisition of a prominent development site located at Riverwalk Drive in San Marcos, Texas. This strategic move, spearheaded by the team at Helu Development, promotes Helu's commitment to always building better communities. Situated at Riverwalk Drive, the development...