Wednesday, September 27, 2006
N. Texas developer plans 2,000-acre project in Austin
Taurus of Texas Holdings L.P. has purchased almost 2,000 acres in East Austin
that it hopes to turn into a master-planned, mixed-use community.
North Richalnd Hills-based Taurus has unveiled plans that include a mix of residential, retail and office uses in
East Austin
. More than 7,000 homes will be built within the development over the next seven to 10 years, according to the company.
"This is an exciting opportunity for our firm and promises to be a very unique new addition to the east
Austin
area," says Douglas Gilliland, president of Taurus of Texas. "Residents will be able to live, work, shop and recreate in a pedestrian-friendly and environmentally-sensitive community."
Once site planning is complete and infrastructure is in place, the company will market large portions of the site to homebuilders and commercial developers. Taurus expects the first of the homes to be available as soon as early 2007. Plans call for a mixture of single-family homes, town houses and apartments.
Taurus officials cite the strong local economy and solid base of high-tech firms for their decision to develop in the
Austin
market. In addition, the arrival of SH 130, which will be completed next year, and the strong growth of the
East Austin
area, helped in the decision to purchase the property.
Taurus of Texas is a subsidiary of Boston-based
Taurus Investment Holdings
. Taurus Investment is the owner and operator of more than 10 million square feet of real estate worldwide.
Copyright © 2006 American City Business Journals Inc. All rights reserved.
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