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.