Developers plan to build 132 new apartment units at The Residences at Panther Hollow, 501 Panther Hollow Drive off of U.S. 281 in Marble Falls. The Marble Falls City Council unanimously approved a zoning map amendment during its Aug. 3 meeting to allow the construction of multi-family units on a 7-acre portion of land adjacent to the existing apartments.
The land now will be zoned as a Multifamily Residential District, a classification that allows for higher-density housing, City Planner Scarlet Moreno said. It was previously zoned as Existing Neighborhood Zone 1.
Prior to the council meeting, six adjacent property owners were notified of the request, Moreno said. City staff only received one response, which expressed support for the project.
This is the second phase of the Panther Hollow development. It is being developed by NE Development and the SMYRLgroup. The first phase was completed in 2018.
Phase 2 construction likely will begin a year from now, developer Bill Smyrl said. The new portion will include an extension of Panther Hollow Drive as well as larger units.
“We’re adding a few three-bedrooms, which we didn’t have in the existing project,” Smyrl said. “We have a need for that, although not many. I think about 10.”
Panther Hollow currently has a wait list for available units, Smyrl said.
The city’s Planning and Zoning Commission previously approved the request for the rezone at its July 1 meeting.