Kyle’s First Wal-Mart Gets the Green Light; 300 New High-End Homes in Lakeway
- Apr 18, 2012
The Kyle City Council has unanimously approved a conditional use permit for the city’s first Wal-Mart. The 156,000-square-foot retail store will sit at the intersection of Interstate 35 and Kyle Parkway.
Hays Free Press reports that the new retail store will generate sales tax revenue of approximately $35 million annually. City Manager Lanny Lambert said the new revenue could be used to finance road improvements. Wal-Mart is expected to bring around 300 new jobs to the area.
The initial plan called for the box entrance facing the interstate, but revised plans show a new orientation for the building facing Kyle Parkway, according to Hays Free Press. This switch involved the developer purchasing additional land to provide parking spaces lost in the revised plans. Despite complaints from Kyle residents, the publication reports that the new Wal-Mart will not open for at least a year or even longer.
In other real estate news, an exclusive community is expected to begin construction this summer in Lakeway. Plans call for 300 high-end homes sitting on 456 acres of land with R1 star-zoning from the city, which compels the developer to a minimum of 10,000-square-foot lots, side-entry-only garages and no less than an 80-foot front lot, according to the Community Impact Newspaper.
Homebuilders Bellaheim Homes, Brohn Homes and Sitterle Homes have been contracted to construct custom homes with prices starting at $500,000. Model homes representing each of the three builders showing different plan options will be available in June, says the Community Impact Newspaper.
The plan for the first phase includes 68 residential lots—54 of which are already under contract—and two utility lots on approximately 32.2 acres. Phase 1 for lot construction has recently broken ground and is expected to completed in May.
Photo credits: Douglas Hunter – partner in the Serene Hills Development