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October 16, 2020 Comments (0) Views: 629 Texas News, Top Texas

$1B MXU Project Proposed for Leander

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The City of Leander said Thursday it had entered a public-private partnership to develop Leander Springs, a 78-acre mixed-use project with retail, restaurants, entertainment, hospitality, office and residential components. Expectations are that a fully developed Leander Springs could be valued at $1 billion.

As part of an economic development agreement with Leander Springs LLC, the city approved up to $22 million in performance-based tax incentives for the project, which promises to construct a four-acre crystalline lagoon powered by Crystal Lagoons. Reportedly it will be the first such manmade lagoon in Central Texas.

“This dynamic mixed-use development is a game-changer for our community,” said Mayor Troy Hill. “Leander Springs has a phased approach that will bring in much needed commercial development at the beginning of the project while incorporating residential uses in a proportional manner.”

In addition to commercial development, up to 1,600 units of multifamily development is proposed.

Read more at City of Leander

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