The City of Austin has confirmed the approval of crucial advancements for the development of the Colony Park Sustainable Community by the Austin City Council. The next phase of the process includes plans to return to the city council early next year to finalize the financing package and related matters.
Initiated in 2012 with a $3 million grant from the U.S. Department of Housing and Urban Development, the Colony Park Sustainable Community Initiative has been characterized by extensive community engagement and collaboration. After adopting the community vision in 2014, the City of Austin, Catellus Development Corporation, and the Colony Park neighborhood have refined the land use plan. This refinement aligns it with current market demands while preserving the community's vision. According to a press release by the city of Austin, an agreement with Catellus is expected to be finalized in early 2024, with infrastructure construction set to start in late 2025 and building construction commencing in 2027.
Sylnovia Holt-Rabb, Director of the Economic Development Department, expressed her satisfaction with this progress. "We are thrilled with City Council’s approval of the two key advancements, marking a significant stride in the realization of the Colony Park Sustainable Community," said Holt-Rabb according to a press release by the city of Austin. "This underscores our collective vision, and we eagerly anticipate the positive impact on northeast Austin. These milestones reflect years of community engagement and planning, and we look forward to transformative journey ahead."
The Colony Park Sustainable Community is an initiative led by both city officials and local residents aiming to develop 208 acres of City-owned property in northeast Austin. According to information provided on its webpage by the city of Austin, when fully realized, this Master Planned Community is anticipated to include around 1,072 single-family homes, 831 multi-family apartments, 230,000 square feet of mixed-use office and institutional space along with 130,000 square feet of mixed-use retail space. The plan also includes 53 acres of parks, trails, and open spaces.