February 10, 2023 – Plans to develop the former McCoy Elementary School into a mixed commercial and residential project are still underway as Partners Development, a commercial real estate firm based in Houston, received a zoning map amendment providing approval for planned unit development zoning from City Council at the Oct. 11 meeting.
According to an article by Real Estate Weekly, Novak Commercial Development has purchased approximately six acres at the site, newly branded as The Commons at Rivery, with plans to build a four-story multifamily property consisting of 300 upscale apartments with a projected completion in 2025.
“We are honored to be a part of Georgetown’s evolution with The Commons at Rivery, a dynamic and walkable destination that will reimagine nearly 15 acres key to the city’s Williams Drive Gateway Plan,” Partners Senior Vice President of Development Julie Ward and Managing Director of Development Carter Perrin, said in the article. “We’re excited to work alongside and collaborate with homegrown firm Novak as we forge ahead with creating a vibrant destination for both locals and visitors in one of the fastest growing communities in the country.”
According to Virtual Builders Exchange, the Austin office of civil engineers Pacheco Koch released a concept plan that included a multifamily building with approximately 300 apartments, four retail/office buildings with 60,000 square feet of commercial space, and between 650-700 parking spaces. In addition, the project would have a minimum 10,000 square-foot plaza, patio space, detention pond, open space, shrubs and ground-cover, canopy trees, 10-foot landscape buffer, trail, monument sign and 71% impervious cover. The development hopes to bring a mix of local and national tenants.
Image Courtesy: Partners via Website
“We are thrilled to begin a joint partnership with the Partners team on The Commons at Rivery, located in a prime position in Georgetown, Texas,” Andy Heard, President and Partner of Novak Commercial Development, said in the article. “Our vision to develop high-quality, experiential living makes this partnership a perfect fit. Novak and Partners will bring another game-changing project to a market hungry for lifestyle living experiences.”
According to the article by Real Estate Weekly, the first phase of retail construction is projected begin the second quarter of 2023.
As we reported last December, Partners Development purchased the 14.7-acre site from the Georgetown Independent School District in mid-December 2021. The company told Hello Georgetown they are planning to build a mixed-use development for multi-family residential space and commercial buildings that would house a variety of services including retail stores, medical offices, and restaurants.
Stay tuned for updates as we receive them!
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