Large European-inspired village planed for Georgetown

Wolf Lakes Villageis expected to look similar to an ancient village you'd find overseas (Photo: CBS Austin)

A major development is in the works for the City of Georgetown. A European-inspired village aims to meet the fast-growing city's needs for jobs and housing while looking unlike anything else in the region. The development would be built about a mile from downtown Georgetown on a 162 acre plot of land at I-35 and State Highway 29.

"It is basically the size of what downtown Georgetown is today," explains Georgetown City Manager David Morgan.

The development itself, Wolf Lakes Village, is expected to look similar to an ancient village you'd find overseas. It'll meet the community's day-to-day needs like housing, shopping, restaurants and medicine while including corporate space for the next big business looking to call Central Texas home.

Just across the road from the busy Wolf Ranch Town Center, the city hopes Wolf Lakes Village will be a destination for the area.

"Future workers are looking to be in an amenitized area that has residential, it has places to play, places to shop," explains Morgan.

He says the development also sets the stage for a strong corporate campus, adding that one of the top requests from Georgetown residents is for more and better jobs closer to home.

"If you look at all forecasts, Central Texas is going to continue to grow significantly and we need to make sure we have strong employment centers," Morgan says.

Both the City of Georgetown and Williamson County are offering a combined $130 Million in reimbursements to implement infrastructure the project needs. Morgan says the entire development is valued at over $1 Billion and would take 10 years to complete.

The city says they expect the developer to break ground on the first phase of the project in 2019.

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