Ashton Gray Development has acquired an additional 75 acres to expand its Briarwood project in Elgin, now totaling 205 acres. Construction for the first phase of this development is currently underway.
Located on the Travis County side of the Bastrop-Travis county line, Briarwood is conveniently situated off Farm-to-Market Road 1100. According to reports from The San Antonio Business Journal, the original mixed-use development (MUD) agreement with Elgin included plans for approximately 772 single-family homes, as well as a mix of commercial and residential space spanning over 19 acres and open spaces covering about 33 acres.
The newly acquired land will accommodate around182 townhomes, along with an additional mix of multifamily or commercial developments across a total area of about19 acres. Furthermore,the expansion also includes43 moreacres dedicated to parkland and open spaces.
Briarwood marks Elgin’s first in-city MUD venture where residents and property owners are subject to MUD rules while still being partofthe city itself.This means that they will be responsible for paying both MUD taxes as well as property taxes imposed byElgin City Council.
This article was originally published on Connect CRE.
