Greyrock Ridge and Bee Cave Housing Projects Closer to Reality
- Dec 28, 2011
A preliminary plan for a 177-acre residential development recently received the green light from city and county officials. The project, named Greyrock Ridge, will be developed in an environmentally sensitive area, partly located within Austin’s city limits. The approval of the housing project comes as a surprise, two years after another mixed-use project planned for the same site didn’t receive City Council approval.
According to preliminary plans, 15 percent of the development will be covered by rooftops, roads and other surfaces and about 58 percent will be home lots. Additionally, 31 percent will be open space. Each home lot will be between 6,500 and 16,844 square feet, according to The Statesman.
The county approval comes three months after city’s Zoning and Planning Commission gave its approval on the environmental requests. Just west of the proposed site, Standard Pacific Homes is building 200 homes.
In other residential real estate news, a development proposed in the Bee Cave area was unanimously approved by Bee Cave City Council on Dec. 13. The authorized housing project calls for 16 attached residential units and 62 detached residential units on 35 acres of land. The project dates back to 2009, before Bee Cave became a city, reports Community Impact Newspaper.
The publication mentions that the future units will be built according to a unique design, a greenbelt separating the two sections containing the attached and the detached units. Embrey Properties will finance the 16 attached units being built at the same time. Construction works are expected to begin by the end of next summer and for the main phase to be finished in two years.
As for the purchase costs, Embrey Properties representatives assert that the attached units will cost between $160,000 and $240,000 to purchase, while the detached units will cost between $240,000 and $300,000.