Plans are at an advanced stage to construct more than 1,000 homes on a 454-acre piece of land. The development called Parmer Ranch Community will comprise 100 acres of commercial development, 1,000 residential units, sites for elementary and middle schools, and 47 acres of parking space.
The mixed-use Parmer Ranch Community is being developed by Owen Holdings. According to Joe Owen, the company’s founder, a lot of priority will be given to the rooftop. The project will be developed in northern Georgetown Williams Drive and Ronald Reagan Boulevard near the Cowan Creek Golf Club.
“What I have intended to do all along is to start with the rooftops,” Owen said. “For the commercial, our intentions are to hold off, generate rooftops and density, and then to visit that at the appropriate time.”
A multi-team comprising of Gehan Homes, Sitterle Homes, Empire Communities, and GFO Home has been selected to build the project. According to the announcement, units in the Parmer Ranch Community will be priced starting from $250,000.
The development will comprise 100 acres of commercial space comprising of office, retail, medical and multifamily developments. According to Owen, the commercial section of the project will take some years before being developed.
Owen went on to indicate that the project has been motivated by a growing trend of outsiders flocking into the state from other states. Owen is also developing other homes in Liberty Hill. Data released by the Austin Board of Realtors shows that Williamson County dropped in housing supply during the COVID-19 pandemic. The report shows that the county housing supply dropped to 0.8 months in September.
For several years, Georgetown has ranked among the fastest-growing cities of its size in the U.S, and Parmer Ranch will be the latest master-planned community in the city. The Wolf Lakes Village sitting on a 164-acre piece of land is expected to start selling homes next spring according to information available on the project website.