MARBLE FALLS, TX-Over the next 15 years, 1,030 acres at the northwest corner of Texas 71 and US 281 will be developed into a master-planned community called Flatrock Springs. When complete, the $200 million project will include more than 700,000 square feet of commercial space, along with 2,500 living units.
The land, owned by a consortium of local investors known as Marble Falls Partners LP, was previously zoned for agricultural use. Marble Falls Partners brought in Coral Gables, FL-based SouthStar Development Partners to master develop the property.
SouthStar worked with the city of Marble Falls to have the land rezoned to a Planned Development District, which allows the development of a mix of uses, according to Thad Rutherford, vice president of project management for SouthStar. “This is an ideal location for both commercial and residential development,” he tells GlobeSt.com, pointing out that Flatrock Springs will be located at a high-access interchange in one of the fasting-growing communities in the Texas Hill Country.
Flatrock Springs' zoning application, which is the largest in Marble Falls' history, went before the city's planning and zoning commission last month and was recommended for approval by the commission before moving on to the city council for a final decision.
The land plan, designed by Austin-based Planned Environments, will include traditional office space, as well as medical office space due to the planned Scott & White Lake of the Hills Regional Medical Center, which will be located nearby on an adjacent property and will share the entry boulevard with Flatrock Springs. Housing options will include single-family homes, apartments, town homes and condominiums. Roughly 200 acres is set aside for green space including walking and bike trails.
"Marble Falls is already a regional hub, and a development as large and multipurpose as Flatrock Springs will provide additional incentive for businesses and families alike to establish themselves in the area," says Ralph Hendricks, Marble Falls city manager.
Marble Falls, located 45 miles northwest of Austin and 85 miles north of San Antonio, is home to 7,200 people. Nearly 63,000 people live within a 20-mile radius, and that population is expected to grow by 12.5 percent from 2009 to 2014, according to the Marble Falls Economic Development Corporation.
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