Cedar Park closing in on city build-out

CEDAR PARK, Texas (KXAN) - With more people moving to Central Texas, land is effectively all but taken for major new home developments in Cedar Park.

“No doubt we’re in a crunch for Cedar Park. You can say for Greater Austin, too," said Land Use Analyst Jack Inselmann, with Metrostudy.

But Cedar Park city managers acknowledge Cedar Park is unable to annex nearby county land since it is hemmed in by Leander, Round Rock and Austin. It takes in an area of just 22 1/2 square miles.

Assistant City Manager Josh Selleck said they have long been aware the developable land would one day, run short. The estimate when the city will be completely built-out is just five- to seven years. 

Selleck said at that point, the focus will shift to expanding commercial properties in Cedar Park as the city looks to maintain its tax base.

Census numbers show the growth over the last three years. In 2010, 48,937 people called Cedar Park home. By estimates last March, it ballooned to 54,136.

Cedar Park's John Storms moved into the Ranch at Brushy Creek subdivision last September, mainly for the schools.

“Right now we're in the middle of a construction zone. But we like the idea of it settling out,” he said.

He's one of just 3,400 homeowners who will be the last to build new in this fast-growing Central Texas city. Josh Selleck estimated there's only enough space to add between 10- and 20 percent more new homes.

When it comes to what's left for large scale residential construction, analysts say the tipping point came three weeks ago with Ryland Homes and Standard Pacific Homes, both national builders out of California teamed up.

The two home builders bought up the last 200 or so lots in the Reserve at Twin Creeks subdivision. The addition to the 760 acre Twin Creeks development sits right on the edge of Cedar Park's western boundary, but still within its extra territorial jurisdiction.

Standard Pacific’s Division President John Bohnen told KXAN, “We've been trying to get our arms around it for awhile so we were just excited to buy where we were (able to). The market is very constrained and continues to tighten.”

With no room for new, similar master planned communities in Cedar Park where thousands of new homes go up amongst common amenities like community pools and fitness facilities or trails, the next couple years will likely force a series of much smaller home building projects on in-fill parcels.

Often, builders will cobble together three or four parcels in what is known as an assemblage property. That means room for only dozens of new homes, not hundreds at a time.

Inselmann said two years ago, there were 685 new homes started in the Cedar Park. Last year, that was up to 791. 

Today, he calculates 898 new lots are platted and ready to go. That’s only a short supply in a city that he agrees is a barometer for the entire area. He anticipated the build-out will result in Cedar Park property values staying strong.

He observed, “It’s a city that was once far out, you would once have to pack a lunch to go to Cedar Park, but it is now part of the Austin area.”

For homeowner John Storms, he's glad he moved closer to Austin from neighboring Round Rock when he did.

“There's still a lot of growth. We see schools being planned. So it's not completely full but the end is near,” he said.

Of course home builders do not stay within city boundaries. North in Williamson County to the city of Leander 10,000 new homes are planned. Inselmann pointed out that city is today where Cedar Park was 15 years ago.