The 97-acre proposed development site dubbed “Indigo Ridge South” in eastern Cedar Park calls for offices, light manufacturing, and high-density residential, including up to 1,500 new housing units.
Located near the intersection of East Whitestone Boulevard and West Parmer Lane, the parcel is situated on the eastern fringe of Cedar Park, south of an Austin Wood Recycling location and west of a single-family home neighborhood on the outskirts of Round Rock. Originally slated to become a Schlitterbahn waterpark, development plans for the waterpark stalled several years ago. Currently, plans for Indigo Ridge South are moving forward, including rezoning the land into a “planned development” that would accommodate a general business or mixed-use project.
Of the total acreage, 20 acres in the southwest corner of the parcel would be zoned for mixed-use development, while the remaining 76 acres would permit general business, including light manufacturing. All told, the new planned development portion may allow up to 1,500 apartments.
Cedar Park’s Planning and Zoning Commission has recommended the rezoning request for approval. Public hearings are scheduled for this week and next (Sept. 27th and Oct. 4th).
Additionally, Indigo Ridge North, located just north of East Whitestone Boulevard from Indigo Ridge South, received zoning approval in August. Expected to include retail, hotel, office, and residential components, Indigo Ridge North has been compared to The Domain in Austin and is slated to include office buildings up to 10 stories tall and up to 3,000 residential units.
Mixed-use development can affect the value of single-family homes dramatically, often making neighborhoods close to the planned development more valuable and attractive to residents, investors, and tenants alike.
If you have questions regarding Indigo Ridge South, Indigo Ridge North, or another development and how they may impact your residential investment strategy or your investment property’s current value and marketability, please reach out to us anytime. Our team is always here to help.
Posted by Monte Davis