American Ventures Targets San Marcos for 100-Acre Mixed-Use Development
American Ventures is setting its sights on San Marcos for a sweeping 100-acre mixed-use district. The developer is currently collaborating with the city to negotiate economic incentive agreements that would help bring the ambitious project to life.
According to a report by the Austin Business Journal, the proposed development will include a total of 1,196 multifamily units, 44 townhomes, 84 single-family homes, and 120 build-to-rent homes. Also planned are 16 live-work-play units, a 130-room hotel, and approximately 144,200 square feet of office, retail, and grocery space. The site is located near the intersection of East McCarty Lane and Rattler Road and will be built in three phases with completion expected by 2031.
The development is anticipated to have a significant economic impact on the region. Projections estimate it will generate $145.5 million in property, sales, and hotel occupancy taxes for the city of San Marcos, as well as $66.1 million in property and sales taxes for Hays County, after accounting for any potential incentives such as property and sales tax abatements.
Firms partnering on the project include BGE Inc., Metcalfe Wolff Stuart & Williams LLP, and DPFG Inc.
San Marcos, located about 30 miles south of Austin, is home to Texas State University and has a population of nearly 75,000 residents. The city continues to attract interest from developers due to its growing population and proximity to the burgeoning Austin-San Antonio corridor.
