Kyle enters agreement with developer for 2,100-unit subdivision
At Tuesday’s meeting, Kyle City Council unanimously voted to enter a deannexation and development agreement with Blanco River Ranch Properties, LP, a group that intends to build a subdivision or sell for residential development purposes.
Under the agreement, the city will de-annex a portion of the Blanco River Ranch property located within the city’s corporate limits and create a public improvement district and other financing mechanisms, according the the development agreement proposal. Typically, a PID involves a county or municipality issuing bonds to fund various development. The city also agreed to de-annex land along Loop Road West, Loop Road East and FM 150.
Because the land will be developed within the extraterritorial jurisdiction of the city, Kyle’s zoning ordinances do not apply. However, the owner agreed to limit the first planned phase of the subdivision to 2,100 single-family units on a nearly 859-acre tract of land, limit impervious cover on 60 percent of each lot’s area and create a minimum of 100 acres of parkland and trails.
However, projects such as the FM 150 realignment and potential future state construction in the area could change some of those plans, Mayor Todd Webster said.
“The fact is, wherever TxDOT puts [those projects], Blanco River Ranch would have to amend their proposal,” he said.