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Thursday, 22nd February 2018

in Lakeway TX

Bee Cave Weather

City center quandary faces City


From Mayor Joe Bain's blog detailing the decision to be made about the land right behind HEB on 620.


"Stratus Development made a presentation to council and the public on a proposed project on the remaining land they own West of the Oaks.


Their proposal included a 350 unit apartment complex.  In exchange they are willing to give the city 25 acres for parkland.  


The existing PUD allows them to build patio homes on their property - if they do that, they would use the entire property and the parkland would not be available to the city.  Either way, they would be required to build a road across their property to connect Main Street.  


Question is, is a 25 acre park worth 350 apartments?  The property is for sale for about $5 million - of course, if purchased, the road would still need to be built at a cost of about 2-3 million dollars."


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