The City of Austin is pleased to announce the signing of the Colony Park Sustainable Community Development Agreement with CDC Colony Park Holdings, LP, an affiliate of Catellus Development Corporation (Catellus). This agreement paves the way for the development of 208-acres of City-owned land as a master-planned community, including essential services, public amenities, and diverse housing options.

The Colony Park Sustainable Community Initiative began in 2012 as a three-year master planning process supported through a $3 million U.S. Department of Housing and Urban Development Sustainable Communities Challenge Grant. Through this process, the City engaged hundreds of community stakeholders through community meetings, workshops, and family-focused events to create a community vision for the project. This vision is captured in the Colony Park Master Plan and Design Guidelines, which includes priorities that will guide the development of the 208 acre City-owned site.

Recently, the Austin City Council approved an ordinance establishing a Tax Increment Reinvestment Zone (TIRZ) for the City-owned property and approved a project and financing plan. This action aims to encourage economic development and provide a means of financing the costs of public works, public improvements, programs, and other projects benefiting the TIRZ.

Additionally, Council previously approved an ordinance to amend the planned unit development (PUD) district zoning.  The PUD zoning amendment secured the goals and aspirations of the Colony Park Sustainable Community vision as informed by over a decade of community engagement with stakeholders in existing adjacent neighborhoods.