Capella Commercial is vying for the City of Kyle’s approval to receive lucrative incentives in exchange for developing a 45-acre mixed-use development. The proposed project boasts an array of amenities, including a hotel, beer garden, amphitheater, dog park, pickleball courts and ponds with paddleboarding and kayaking. Capella has presented its plans to the town and anticipates that they will consider rezoning in the coming months.
According to reports from Austin Business Journal, developers are seeking incentives under “Project Two Step” – as it is known in economic development discussions – which would include a 15-year property and sales tax rebate at 50% rate amounting to $14.3 million. City officials have estimated that this project could generate $62 million in sales and property tax revenues over two decades.
Capella has an impressive track record with successful developments such as Arena Tower near Domain area , River Place Medical Center , Pflugerville Crossing among others . This latest venture aims to bring an exciting mix of entertainment options for residents while also boosting economic growth within the city limits.
