October 16, 2020
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.
For comments, questions or concerns, please contact Paul Bubny