Developers Wanted for Convention Center, Hotel in Austonio Megaregion
The city of Kyle, Texas, is seeking developers to build a hotel and convention center in its Lake Park District, aiming to bolster its position within the Austin-San Antonio megaregion.
Originally Published in The Real Deal
Published on: November 21, 2024
A rapidly growing suburb of Austin is taking bold steps to cement its place as a premier destination for business and leisure in Central Texas.
Officials in Kyle, the second-fastest-growing municipality in the nation with a population of 62,500, are requesting proposals to develop a hotel and convention center on a 4-acre site the city is branding as the Lake Park District, the Austin Business Journal reported.
The district is a cornerstone of Kyle’s long-term vision, which includes plans for a St. David’s HealthCare hospital, plus office, retail, residential and a public park. Its location between Kyle Parkway and Kohlers Crossing offers proximity to Interstate 35, providing easy access to Austin and San Antonio.
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Kyle’s population grew from 5,000 in 2000 to more than 58,000 people this year, according to the city’s economic development department. It is one of the places closing the gap on the emerging megaregion of Austin-San Antonio.
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Developer Ari Rastegar, CEO of Rastegar Property Company, is also contributing to the growth. The firm is spearheading 700 Bunton, a 318-acre built-to-rent community featuring 1,000 single-family homes, 1,400 apartments and over 50,000 square of commercial space.
