Georgetown continues to be one of the fastest-growing cities in the Austin area and the nation, with an estimated population of 70,685 as of mid-2017, a 5.4 increase year-over-year. To accommodate the increase in residents, the city of Georgetown is increasing its housing inventory. In fact, the Georgetown City Council recently approved zoning for two new residential developments: one, a new planned unit development called Berry Creek Highlands; and two, a high-density, multifamily development off Wolf Ranch Parkway near I-35. These two new developments present great investment opportunities for those looking to enter the Central Texas real estate landscape.
Berry Creek Highlands, a massive site on the west side of State Highway 195 near the Sun City neighborhood, is planned as a mixed-use community on 314 acres with around 1,500 residential units. The plan for the development is as follows: 211 acres of single-family residential development, 46 acres for multifamily residential use, including about 16 acres of higher-density multifamily development along SH 195 and 15 acres for commercial use. According to city zoning, the development could also include a new fire station, public parks and the site for a Jarrell Independent School District elementary school.
The second project, rezoned by the Council for a high-density multifamily residential development, is located on a bend in the Wolf Creek Ranch Parkway just north of the Wolf Ranch Town Center and west of I-35. The 13-acre development allows for 24 units per acre. However, the developer thinks the density may be closer to 18 to 20 units per acre, which would total 250 units.
Do you want more information on residential developments in the area? Are you or someone you know interested in investing in the Georgetown area? Now is a great time. Contact our team today for information about the Georgetown real estate market and possible investment opportunities, similar to the two above.