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It could include 2,000 homes, in addition to multi-family and rental housing.
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A joint venture between River City Capital and Evergen Equity is a South Austin suburb for a giant residential project.
The company aims to complete a more than 500-acre extension on Creedmoor, the Austin Business Journal reported. The precise main points of the commission are unclear, but it is possible that it will involve some 2,000 single-family homes, as well as multi-family and build-for-rent elements.
“We need to position the land to be useful to a multitude of users, but primarily to developers and homebuyers,” Cory Older, co-founder and president of River City Capital, told the outlet. “Their geographical proximity is incredible. It is a direct connection to the forty-fifth South. . . From forty-five you can go to Tesla, you can go to the airport, you can go to Austin.
The development would cover 564 acres south of State Highway 45 at the intersection of Williamson and Turnersville roads. It is about 15 minutes from Tesla Gigafactory and the Austin airport.
The developers are fine-tuning the lotting plan and envision three to four homebuilders partaking in the project. While specifics about lot dimensions remain uncertain, a substantial portion is anticipated to range between 50 to 60 feet wide. In addition, the community’s water supply is set to come from a private contract, the outlet said.
This planned progression portends a possible increase in the population of Creedmoor, a city that had only 458 citizens in 2020, according to the US Census Bureau.
River City, led through CEO Luther Mercer, is running a 700-unit apartment complex near Austin-Bergstrom International Airport. It is also co-developing more than 1,500 apartments between projects on Parmer Lane in North Austin and East Riverside Drive in East Austin.
—Quinn Donoghue