R.E. Source
AUSTIN (Austin Business Journal) – The Austin City Council has approved and created two new Municipal Utility Districts (MUDs) that have opened up thousands of acres for commercial and residential development.
The first is a conglomeration of five MUDs filed in October, dubbed Pilot Knob, near William Cannon Dr. and US 183.
Officials say the 2,214-acre community, which is estimated to require $482.2 million in bonds, will include 5,660 single-family units; 2,420 townhomes; 6,730 multifamily units; more than 3.8 million sf of commercial space; a 40-bed hospital and an 850-room hotel.
Rio De Vida, the second MUD, was originally proposed in December by Dallas-based Texas Industries Inc.
The project is expected to cost $405 million in bonds and would create a community with 15,530 residents and about 9,000 jobs. Project plans include 1,370 single-family homes, 1,143 townhomes, 1,505 “condo mansions” and 4,055 urban apartments.
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