MARBLE FALLS, TEXAS — Coral Gables, Fla.-based Southstar Development Partners is developing a new master-planned community on 1,030 acres in the Texas Hill Country town of Marble Falls. Known as Flatrock Springs, the project will be located at the intersection of State Highway 71 and U.S. Highway 281. Site work for the project will not break ground for several more months, but initial plans for the project call for 700,000 square feet of commercial and office space as well as 2,100 residences.
“We understand that this is a rural area, albeit a quickly expanding rural area, that needs smart growth,” says Thad Rutherford, vice president of SouthStar Development. “When I say smart growth, I mean what do the people need in this area without creating sprawl or creating commercial districts that don't work.”
Rutherford envisions power center-anchored retail with several, small supporting tenants. He believes one of the tenants will be a grocer, and a major discounter is also likely. With the Hill Country's reputation for outdoor recreation, an outdoor retailer is also not out of the question.
With the project being developed on a 15- to 20-year timetable, there are numerous different directions development of Flatrock Springs could take. Rutherford sees the potential for a hotel or a medical facility in the area. The residential component will be as varied as the rest of the project. For-sale and rental components are likely, Products such as townhomes could be developed along with things such as ranch homes and senior housing product.
“The biggest thing for Flatrock Springs is diversity,” Rutherford says. “We believe different products will thrive in the community.”
As master developer, Southstar plans to sell sites for development, but it considers the people involved with the project partners rather than just buyers of land. The company wants to control the development of the project and to make sure it is done right — which involves taking their time with it.
“We're going to build the roads first, then let the thing fill out,” Rutherford says. “We're not going to try and predict what we think people want.”
— Coleman Wood