WACO, Texas — A new site development the size of the old Floyd Casey Stadium is coming to Waco. At Tuesday night's meeting, the City Council officially approved the redevelopment of 72 acres of land.
"I'm excited about this because of the housing potential that is there," Alice Rodriguez, District 2 Waco City Council Representative, said. "That is something that is deeply deeply needed in my district."
Two hundred forty homes, over 54 acres and 19 acres for mixed commercial use is now being planned for the area at 3088 Burnett Ave. This will allow contractors to build a massive new home project on the land. Every home would be five minutes away from a shared green space.
But one resident of Waco had questions that she wanted answered as she stood in front of the council at Tuesday's meeting.
"What's the goal here? Because if the goal is to make the city of Waco more vibrant, I think there are a lot more low cost ways to do that," Tiffany Owens, a Waco resident, said.
This $100 million housing project aims to bring affordable homes to Central Texas. They will range in value from $156,000 to $384,000. The types of housing include multi-family homes, zero-line lots, larger family homes, cottages and a few large mansion residences.
"There's a lot of investment on our end as the city," Owens said. "How is that cost being split? What is coming from the developer. Is this a shared burden?"
The city will allow the developer to use $19.2 million in TIF funds as reimbursement for the public improvements they make in the development.
But some people think that price tag might be a bit too much.
"I realize that the community wants to increase their housing stock. And that's a totally wonderful goal," Owens said. "I just would like to see a little more transparency on if other options have been considered that are a bit more sustainable from a financial standpoint."
There are still questions unanswered but one thing is for sure: development is headed to the site of the old Floyd Casey Stadium.
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