Georgetown Approves 1,000-Home Development Amidst Rapid Growth

Georgetown Approves 1,000-Home Development Amidst Rapid Growth


Source by: Cody Baird
Austin Business Journal


Georgetown, which has claimed the title of the fastest-growing U.S. city with a population exceeding 50,000 for the third consecutive year, is set to welcome a new housing development spanning over 300 acres.

The Georgetown City Council, in its meeting on May 28, gave the green light for the establishment of a municipal utility district for Ragsdale Ranch. This forthcoming housing project will see the construction of over 1,000 homes, located a short distance north of Liberty Hill's Santa Rita Ranch, itself among the rapidly expanding neighborhoods in the metropolitan area.

HK Ragsdale LLC is spearheading the development of Ragsdale Ranch, as indicated in the meeting agenda, with Paul Kuo identified as the developer contact. Kuo, a managing partner at HK Real Estate Development based in San Antonio, specializes in providing affordable residential lots along the I-35 corridor between Austin and San Antonio. Details from Kuo regarding the project were not immediately available. Situated on approximately 336 acres along Farm-to-Market Road 3405, about a mile east of Ronald Reagan Boulevard, Ragsdale Ranch's development will unfold across six phases. The initial phase is slated to comprise 204 homes, with subsequent phases ranging from 94 to 282 homes each, ultimately totaling 1,161 homes upon completion.

The proposed lot sizes at Ragsdale Ranch range from 6,000 to 8,400 square feet. Apart from residences, the development will feature around 17 acres of parkland, 32 acres of "passive open space," and an amenity center.

The status of lot purchases by homebuilders within Ragsdale Ranch remains unclear.

Georgetown's demand for new housing is evident. Over the past three years, this Austin suburb has consistently ranked as the fastest-growing city with a population exceeding 50,000, according to U.S. Census data. As of July 2023, Georgetown's population reached 96,312, marking an increase of approximately 9,250 individuals from the same period in 2022, translating to a 10.6% year-over-year growth.

Homebuilders have been capitalizing on the city's growth surge. Georgetown prominently features on the latest list by the Austin Business Journal of the region's fastest-growing neighborhoods, with four entries. Additionally, Liberty Hill's Santa Rita Ranch, the second-fastest growing neighborhood, is conveniently located just a 3.5-mile drive south of Ragsdale Ranch.

Source: C. Baird (2024) Austin Business Journal. Retrieved from https://www.bizjournals.com/austin/news/2024/06/06/georgetown-homebuilder-austin-ragsdale-ranch.html

6 Properties
$325,000
Neighborhood: Stonefield Sec Two
3
Beds
2
Baths
1,497
Sq.Ft.
2012
Year Built
22
Days on Site
7513021
MLS
$399,999
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
38
Days on Site
6113388
MLS
$2,300 / month
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
44
Days on Site
9102966
MLS
$365,000
Neighborhood: MYERS, C. SUR
3
Beds
1
Baths
924
Sq.Ft.
1963
Year Built
115
Days on Site
2377530
MLS
$1,150,000
Condo: Marina Village At Lakeway Condo
3
Beds
3
Baths
2,226
Sq.Ft.
2008
Year Built
121
Days on Site
8948415
MLS
$1,400,000
Neighborhood: Burleson, Jonathan
89.44
Acres
211
Days on Site
2145268
MLS

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