What's Happening?
Austin-based American Ventures LLC is negotiating with the city of San Marcos for incentives to develop a 100-acre mixed-use district between Austin and San Antonio. The proposed project includes 1,196 multifamily units, 44 townhomes, 84 single-family homes, 120 build-to-rent homes, 16 live-work-play units, a 130-room hotel, and 144,200 square feet of office, retail, and grocery space. The development is expected to be completed in three phases by 2031, with an assessed value of $557 million at full buildout.
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Why It's Important?
The proposed mixed-use development in San Marcos represents a significant investment in the region's real estate market, potentially boosting local economic growth and providing new housing and commercial opportunities. The project aligns with broader trends in urban development, emphasizing mixed-use spaces that integrate residential, commercial, and recreational facilities. Successful negotiations for incentives could facilitate the project's progress, impacting local infrastructure and community planning.
