Columnar Investments hopes the town of Georgetown will approve its multi-use project on 620 acres. The Heirloom development will potentially include 3,600 housing units, townhomes and apartments alongside 48 acres of parkland. It would also include at least 200,000 square feet of commercial space centered around a Main Street development. The Austin Business Journal reports the cost of the project is estimated at $100 million. The group is hoping to break ground next year.
It will be located at the northwest intersection of Ronald Reagan Boulevard and County Road 248, across from where H-E-B is building a new supermarket.
Lionheart Places (planning and design) and Development Planning and Financing Group Inc. (financial advisor) are involved in the Heirloom project.
Once okayed, the city would provide water, wastewater and emergency services. Georgetown is located about 30 miles north of Austin and has been the fastest-growing city of its size in the country for three straight years, with a population nearing 100,000.
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