By Moses Leos III
At 129.5-acres and 333 lots, the conceptualized Cypress Forest subdivision could bring Kyle its first development focusing solely on executive-level homes.
According to city spokesperson Jerry Hendrix, it’s the city’s first major step toward implementing “next level” housing in Kyle.
“We have a lot of entry level homes, which is great, but when you’re ready to move up, people that live here, they’re ready to move up to next level homes,” Hendrix said.
Cypress Forest, originally named the Woodlands at Center Street, was presented to the Kyle City Council in October 2014. The subdivision, a master planned community, is projected to have homes ranging from the low $200,000 to high $300,000. Lots are expected to range from 55, 65 and 80 feet.
The project, which is projected for construction in four phases, does not currently have a timeframe for completion.
According to Kyle Planning Technician Debbie Guerra, city council was presented a concept plan of the subdivision. Kyle is awaiting a preliminary plan from potential developer Scott Felder Homes for the subdivision. In addition, the city finalized a development agreement in February with Scott Felder Homes for Cypress Forest.
The agreement allows council the option to voluntarily annex the 129.5-acre property if Scott Felder Homes purchases land owned by KY-TEX Properties, LP for development. Negotiations between KY-TEX and Scott Felder Homes are ongoing.
It also calls for zoning flexibility by temporarily granting a single-family residential (R-1-2) zoning classification. In addition, 2.598 acres would be available for commercial development. Development standards would be subject to the retail services district (RS) standards.
Scott Felder Homes is responsible for infrastructure costs and construction; all infrastructures would be dedicated to the city. Kyle would be responsible for providing water and wastewater services.
According to Hendrix, providing executive housing could attract a “wider range of residents” and businesses. Guerra said she believes there is a market for executive housing in Kyle.
“If you want to bring an executive park or headquarters, you have to have housing inventory that would be attractive for people to work in a place like that,” Hendrix said.
Mayor Todd Webster said diversifying housing options would allow growing young families and “mobile professionals” to stay in Kyle. He said many are heading to Dripping Springs, Buda and Austin for executive homes.
He also said executive homes could generate more property tax revenue for the city. It may also be a factor in placing “downward pressure” on property taxes.
But is there enough balance in Kyle for executive housing?
Hendrix said that Kyle has an abundance of affordable entry-level homes, which he said is one reason for the city’s growth. According to realtors.com, a basic 3 bed, 2 bath home starts at $135,000 to $145,000. According to 2013 Census Bureau figures, the median value of owner-occupied housing units from 2009 to 2013 was $147,900.
“I think we have a lot of inventory in our homes that would be affordable to any wage class. As far as we know, we have that part covered,” Hendrix said. “As we grow and mature and develop, we want more diversification.”
City Manager Scott Sellers said there is a “very good representation of entry-level and mid-size homes in Kyle.”
However, he also said the city isn’t “ignoring any particular segments of the community.” He said a future city council agenda item could harbor an expansion of the Bluebonnet Estates subdivision.
“It’s a great representation that we are still interested in providing housing to all markets where it makes sense,” Sellers said. “However, there has been a push for higher income homes, and that is where the city is encouraging its new subdivisions.”
