Developer Targets San Marcos for 100-Acre Mixed-Use Project
American Ventures is planning a transformative 100-acre mixed-use development in San Marcos, Texas. The firm is currently collaborating with city officials to establish economic incentives to support the massive undertaking.
According to the Austin Business Journal, the developer has proposed a comprehensive project that includes 1,196 multifamily units, 44 townhomes, 84 single-family homes, 120 build-to-rent homes, and 16 live-work-play units. Additional plans call for a 130-room hotel and approximately 144,200 square feet of office, retail, and grocery space. The development is to be located near the intersection of East McCarty Lane and Rattler Road, with construction projected to be completed in three phases by 2031.
To support the project, the developer and local officials are considering an incentive agreement that could include property and sales tax abatements. Estimates show the development could generate approximately $145.5 million in property, sales, and hotel taxes for the city, along with $66.1 million in sales and property taxes for the county, net of any potential incentives.
Key collaborators on the project include BGE Inc., Metcalfe Wolff Stuart & Williams LLP, and DPFG Inc.
San Marcos, a growing city with a population of nearly 75,000, is located about 30 miles south of Austin and is home to Texas State University.
