Page 6 - The Addie

DEVELOPMENT SUMMARY
Addie is a 16.8-acre tract on Loop 360 (Capital Texas Hwy) in the un-incorporated area of Travis County and the Extra Territorial Jurisdiction of the City of Austin. The west Austin property is regulated by Travis County and certain City of Austin zoning, development, and subdivision ordinances that speci cally apply to the hill country area along Loop 360 roadways. The property has a recorded nal plat and is zoned to allow for either Residential or O ce Development. A Settlement Agreement with an adjacent Rob Roy neighborhood association capped residential density to 50 units townhomes / condominiums or 88,000 SF of O ce Development. (See Settlement Summary attached).
Legacy is proposing a residential townhome community conceptually designed in the 50-unit land plan attached. Over the past six weeks our team has completed the necessary physical, legal and governmental neighborhood due diligence on the property while simultaneously developing a conceptual land plan and architectural study. Legacy hosted a site plan and product design charette and engaged DTJ Design from Boulder Colorado for land planing and conceptual architectural design concepts. The deliverable is a community site plan with a vertical product foot print matching our positioning in the market place:
50 two to three story townhome style units with 2200-3350 square feet of living space capturing views of the Austin Hill Country. Proposed amenities include a clubhouse, tness center, gated entry, and trails.
The site sits on unimproved land and requires both an o -site water line to be extended and a wastewater treatment plant with drip elds to be constructed to spread treated e uent. Onsite improvements require lateral utility lines with services to support 50 units, two water quality retention structures, retaining walls for building pads and drip elds and concrete paved streets. Most of the e uent drip elds will be installed on slopes less than 15% and require Texas Commission on Environmental Quality to approve the drip elds and waster water treatment plant. Three sides of the site have severe topography, but a level hilltop allows for street and product placement for maximum hill country views. A single access point is o Capital Texas Highway. Dedicated turning lanes and a Hwy median break makes ingress and egress easy. A heavily treed natural landscape is thick with old growth Cedar, Heritage Live Oak and Spanish Oak sitting on limestone rock substructure. The limestone rock sub-structure makes for expensive excavation during grading and utility improvements. Development cost estimates were prepared using the latest conceptual plans by the DTJ Design and by the same engineer who had work on the project with the previous developer and were priced by two general contractors. We feel comfortable with the Development costs given we are at concept design stage.
Existing power and natural gas are at the site. We have received will serve letters from dry utility providers Austin Energy and Onegas Company. Other Due Diligence reports either supplied by the Seller or completed by Legacy include: Title Survey, Tree and Topo survey, and Phase 1 Environmental study.
LEGACY COMMUNITIES 4