AUSTIN, TX – The City of Austin Economic Development Department and Catellus Development Corporation will host the first public meeting for the Colony Park Sustainable Community since signing an Exclusive Negotiating Agreement to develop the 208-acre site near Colony Loop Drive and Loyola Lane. The meeting will stream live on the Colony Park Sustainable Community Initiative Facebook page on August 25 at 5:30 p.m.
Speakers from the Economic Development Department, Catellus, and McCann Adams will share updates on the Colony Park Master Plan, including new conceptual ideas and goals for the next phase of the project. Residents are encouraged to attend the meeting virtually and learn more about the project by visiting the Colony Park Sustainable Community project website.
The Economic Development Department signed an Exclusive Negotiating Agreement with Catellus Development Corporation for the Colony Park Sustainable Community project in May 2020. When complete, the Colony Park project is expected to feature housing units, retail and office space, a transit center and an innovation district. The Colony Park project is the largest redevelopment of city-owned land since the Mueller project. It has been a community-led project located in Austin’s eastern crescent, where the City has been focusing to bring new development and services to the area.
The City and Catellus now have a two-year time frame to negotiate a Master Development Agreement for the Colony Park Sustainable Community project. The Master Development Agreement will follow concepts from the Colony Park Master Plan, which was guided by three years of participatory planning led by neighborhood residents, the City of Austin, business leaders, and community organizations. The Austin City Council adopted the Colony Park Master Plan and Planned Unit Development District on December 11, 2014 and will be reviewing updated plans in October 2020.
For more information on the Colony Park Sustainable Community project, visit www.austintexas.gov/redevelopment.
About the City of Austin Economic Development Department
The City of Austin Economic Development Department supports business growth, creative industries, and local communities. These programs build an equitable, sustainable economy to improve the lives of all Austin residents. To learn more about helpful resources, visit www.austintexas.gov/edd and follow @econvitalityatx on Twitter.
About Catellus Development Corporation
Catellus is a national leader in mixed-use development, solving some of America’s most complex land challenges. With 35 years of experience as a master developer, Catellus has transformed former airports, military bases and urban industrial sites into thriving retail, residential and commercial communities. These projects, which often include substantial public amenities, add economic, social and environmental value to the communities they serve. Catellus has both the financial strength and development expertise to turn vision into reality at even the most demanding development sites.