Major Central Austin Development in the Works with Approved Grove at Shoal Creek Deal
The proposed mixed-use development in Central Austin called The Grove at Shoal Creek will pave the way for the development of thousands of new residential units in the area. And thanks to an agreement between key city officials and the developers, final plans have already been plotted to determine the true size and scope of the project.
The controversial project was the source of contention and debate, as developers decided on what to do with the raw plot of land they have acquired for $47 million from the Texas Department of Transportation.
Challenges arose when developers tried to submit a "Planned Unit Development" for approval, but could not easily get the "go" as the land hasn't been zoned before. But thanks to an agreement signed last December 4, The Council approved a revised PUD that would "cap office space at 185,000 square feet and cap retail space at 140,000 square feet, including a maximum of 35,000 square feet per tenant and no more than 10,000 for “cocktail lounge entitlements."
The development will also provide an additional 1,500 homes in Central Austin. The cap on maximum number of allowed apartments that was previously set at 650 was also lifted. To read more about this developing news, you can access the original article from which this post was based here.