American Ventures is eyeing San Marcos for a 100-acre mixed-use district. They are working with the town to create economic incentives.
The Austin Business Journal reports the developer has proposed building a combination of 1,196 multifamily units, 44 townhomes, 84 single-family homes, 120 build-to-rent homes, 16 live-work-play units, a 130-room hotel and 144,200 square feet of office, retail and grocery space near the intersection of East McCarty Lane and Rattler Road. The project would be built out in three phases by 2031.
The inventive agreement could include property and sales tax abatements. The project is estimated to generate $145.5 million in property, sales and hotel taxes for the city, and $66.1 million in sales and property taxes for the county, net of any incentive.
Others involved in the project include BGE Inc., Metcalfe Wolff Stuart & Williams LLP and DPFG Inc.
San Marcos, home to Texas State University (photo), is about 30 miles south of Austin and has a population of nearly 75,000 people.
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