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Community Impact - Round Rock Growth

By
Real Estate Agent with DISCOVER TEXAS HOMES

Community Impact;  http://www.impactnewspaper.com/www

University Boulevard/RM1431 and IH35 

In our new feature, Community Corridors, we focus on one of the hottest intersections in the country. 

"We have had national developers approach us about this intersection, " Round Rock's City Manager Jim Nuse said, "and they tell us that this is one of the most talked about intersections at the national level for commercial development."

All someone has to do is look at an aerial map from five years ago to see the change. This sleepy intersection has become home to destination retail such as the Round Rock Premium Outlets and IKEA.

Teravista subdivision has been selling well and with the opening of Scott & White Hospital and the upcoming opening of the Seton Williamson Medical Center, growth will only continue.

Next Month's Focus: 130 & 45 Tollway corridor in Pflugerville

Residential Real Estate
R1 - Teravista
Number of homes completed and sold ~660
Estimated number of homes to be built when project is completed ~3,700
Number of homes sold in 2006 (to date) ~279
Avg. selling price sold to date ~$250k
Current builders ~Highland Homes, Morrison Homes,  Texas Big, Standard Pacific, Lennar, Legacy, Village Builders
Starting price ~$170's
Community Amenities ~Hike and Bike, Tennis, Sand Volleyball, Residents' Club, Fitness Center, Activities Director
Future Development ~Garden Homes and Recreation Center opening May of 2007. Access from RM 1460 into Teravista in February.
R2 - Melograno Apartments under construction

Future Land Use
McNeil Park
In May 2006 voters said yes to allow the city to sell this land.  The city has not yet sold the 18 acres, and is waiting to see how development grows in this valuable area before selling.

Texas Crushed Stone
Worried about the land conflicts resulting from residential growth so close to a quarry, Round Rock annexed 800 acres of  Texas Crushed Stone in December, and have made it into a Public Utility District. Though nothing is planned yet, the land along IH 35 is zoned for commercial use and could include offices, retail or restaurants. The zoning prohibits businesses such as car dealerships, mini-warehouses or truck stops.

H-E-B Property
H-E-B purchased this piece of land in 2005, but has no immediate plans to build on it. H-E-B often buys property far in advance of using it, but when and if a store is built there it will include a buffer between the access road and the store to keep traffic from backing up, similar to the design of the Premium Outlets.

Commercial Property 
CP1 JC Penney  will be opening a new 104,000 sq. ft. store in early Fall 2007 with approximately 200 employees. 
CP2 TGI Friday's will build a 5,520 sq. ft. restaurant.
CP3 Wachovia bank  will build a 4,055 sq. ft. bank.
CP4 Steak ‘N Shake  will build a 4,180 sq. ft. restaurant.
CP5 Chase Bank
CP6 Independent Bank
CP7 Round Rock Premium Outlets Phase 2  The Round Rock Premium Outlets opening in August was the largest of any Premium Outlets and since has seen the highest traffic volume. Because of this, Phase II has been pushed four years ahead of schedule. Phase II consists of an additional 130,000 sq. ft. taking the total to approximately 500,000 sq. ft.   
CP8 Chili's will build in the southwest corner of the Premium Outlets and there are plans for two more restaurants to open.

Transportation Update
T1 Northbound entrance and exit ramps on IH 35 will be moved further south of University Boulevard to allow traffic earlier     entrance and exit of IH 35 from the frontage road. 

T2 A road referred to as a collector/distributor will extend from the northbound frontage road, go underneath University Boulevard and bypass the light, and finally connect with the IH 35 off ramp to allow commuters to remain on the frontage road while bypassing the traffic signal at University Boulevard.  

T3 Auxiliary lanes will form a wider northbound frontage road from University Boulevard to Westinghouse Road.  

T4 On University Boulevard, acceleration and deceleration lanes will be added to make it a smoother process for vehicles to merge and exit with the main lanes.
A Texas turnaround will be constructed on the north side of University Boulevard.

T5 Earlier than projected openings of businesses surrounding the intersection of University/RM 1431 and IH 35 have resulted in higher traffic volume before the planned completion date of March 2007 for the intersection improvements.

Comments (1)

Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent
Danny I just stopped in here to banish your zero comments and ask you to come back and play with us.  I have a new outside blog, you can comment on too. :)
Nov 08, 2007 10:48 PM