Small Marble Falls To Be Site for Large Mixed-Use Development
The Texas Hill Country town of 6,000, about an hour NW of Austin, is going to start growing fast, very fast. The town council recently approved a new mixed-use development, which will include 1,300 homes, 264 multi-family units and commercial and retail space. It’s going to be called Legacy Crossing and it’s situated on 546 acres at the corner of Highway 281 and State Highway 71.
The site plan shows the developers, MMK Ventures and 71/281 Investments, want to build over 800,000 square feet of retail and commercial space on 115 acres, along with the apartment complex and 150 townhome units. The remainder of the land will free standing housing units and open space. The developers have agreed to build a new $600,000 fire station for the town.
The Town Council will meet next month to vote on forming an improvement district that will aid in funding the utilities needed for the project.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!