City, developer ink deal for Wolf Ranch project

Sep 15, 2014
Community Impact

Agreements in place for 755-acre community

[Iva Wolf] McLachlan said she spent more than a year investigating developers for the project before selecting Dallas-based Hillwood Communities, which began working on the project in October

On Aug. 12, after more than nine months of meetings between city officials and developers, Georgetown City Council approved a development agreement with Wolf Legacy and Hillwood Communities to create Wolf Ranch Georgetown, a master-planned community with more than 2,000 residences, 130 acres of open space and 20 acres of commercial development on the family’s property

Hillwood has developed residential communities throughout the U.S. and has two developments in the Austin area, including Sarita Valley in Leander

Hillwood Senior Vice President Brian Carlock said the development company is expected to close on about 637 acres of the property in October. The remaining 118 acres will be purchased at a later date, according to the agreement

After annexation is completed the area will be zoned as a planned unit development, which allows for flexibility in permitted uses and can establish customized standards for projects that have different types of uses, City Attorney Bridget Chapman said

The project is expected to include more than 1,600 single-family residences, 388 multifamily units and 336 age-targeted units; however, specific numbers could change as developers begin engineering and platting the property, McLachlan said

The site is expected to be developed in seven to nine phases with about 150 to 200 lots per phase

Homebuilders could be selected once lot sizes and platting is completed, and homes are expected to cost between $250,000 and $600,000, Carlock said

Planning is also underway for 130 acres of parkland and open space, including 7.5 miles of trails that will be connected to the city’s trail system, according to the development agreement. The project will also incorporate about 17 acres of dedicated parkland behind Wolf Ranch Town Center to create a 37-acre park along the south fork of the San Gabriel River, McLachlan said

Hillwood has also dedicated about 15 acres for an elementary school as well as 2 acres for a future fire station although a final location has not been determined for either site, according to the agreement

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