Kyle: City Signs MOU with Austin Developer for 38-Acre Mixed-Use Project at Kyle Crossing
Featured Illustration: Artist rending of the proposed multifamily project to be developed during Phase II of the project by Cuasso Design Studios.
by Art Benavidez
Kyle (Hays County) — An Austin commercial real estate developer has entered into a memorandum of understanding for Phase II of a mixed-use project, at a recent City Council meeting.
Central Southwest Texas Development, LLC, plans to develop 38.5 acres, divided into two parcels of land, at the JLL Kyle Crossing development and is asking the city to rezone the properties to MXD (mixed-use district) from RS (retail services district).
Aerial view of parcels.
The MOU sets the stage for negotiations for a Chapter 380 economic development agreement. In exchange for commitments from the developer to proceed with a defined scope of work, the city of Kyle will provide an incentive package that could include a 15-year 50% tax rebate on the value of improvements, and a 50% share of the city’s 1% sales tax revenue on goods and services sold within the development.
The incentives are to be capped at $13 million.
For its part, CSW is committed to building a $3 million pedestrian bridge in the northern parcel over the railroad tracks to allow for additional connectivity through Plum Creek, the Brick and Mortar District and the citywide trail system.
CSW will also donate 3.56 acres of land to the city, located behind Target along Physician’s Way, along with providing 14,000 square feet of commercial space on the North Tract within 24 months of signing the actual agreement, with a total minimum build-out of 18,000 square feet on the North Tract.
The South Tract shall have a minimum cumulative build-out of 15,000 first floor commercial space.
The North Tract is 19.1 acres located at the southwest corner of Marketplace Avenue and FM 1626. The South Tract is 19.4 acres fronts Marketplace Avenue to the southeast of Physician’s Way.
Their presentation included a concept site plan by Bee Cave-based Cuasso Design Studios that showed six mixed-use apartment buildings, along with an amenity center and nine commercial buildings on the northern tract. The site plan showed:
Two retail buildings at 6,300 feet
A 6,600 square foot restaurant
A 6,255 square foot auto service center
A 2,100 square foot auto service center
A 5,600 square foot restaurant
A 6,500 square foot restaurant
The other half of the tract will have a mixed-use multifamily project with three, three-story buildings, and four buildings of four and five stories. Commercial retail tenants would occupy the ground floors of the residential buildings.
A 12-foot pedestrian trail will connect the mixed-use retail and residential side to restaurant pad sites through a half-acre courtyard.
Conceptual site plan for the northern parcel.
Cuasso Design Studios’ concept site plan for the mixed-use multifamily project showed:
575 apartment units
Two three-story apartment buildings
10 four-story apartment buildings, with four of them having retail ground floor uses
920 parking spaces
Conceptual site plan for south parcel.
Travis Sawvell, executive vice president of JLL, said they are expecting to begin construction early next year.
“Our goal for the phase of retail is to start turning dirt in February,” he said.
The Hays County Commissioners Court will now discuss the agreement at an upcoming meeting.
Art Benavidez (Construction News Reporter, Central Texas) is a seasoned journalist with over 15-years of experience in writing breaking news and in-depth features at the local level. He honed his research and reporting skills in newspapers and magazines throughout South and West Texas along with expertise in crafting digital content as Managing Editor of New Image Marketing Research Corporation. Benevidez is a Texas native and graduate of UT-RGV.