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Developer: Aspen Ridge sales strong; council authorizes timeline extension for Oakmont Hills multifamily
Summary
Oak Trust Development’s representative told council Aspen Ridge is nearing sellout, and the council directed staff to prepare a formal timeline extension for the Oakmont Hills multifamily component with a proposed start of Oct. 1, 2025 and completion Sept. 30, 2027.
The council heard an update on the Aspen Ridge / Oakmont Hills development area and directed staff to prepare a formal amendment extending the multifamily project timeline.
Norm Stevens, assistant city manager for administration, reviewed a history of the economic development agreement between the city and Oak Trust Development LLC, noting prior extensions, the 2017–2024 approvals and a 2024 amendment tied to the Reeser (now Brookshire) grocery anchor. Steve Easley, the developer representing Oak Trust, told council the retail anchor opened on schedule in August 2024 and said Aspen Ridge lots and in-line retail interest are strong.
Easley said the project has attracted significant interest and that he expects apartment construction to start once outstanding engineering plan corrections and cell-tower work are complete. He described the overall development as “almost sold out” at the original Aspen Ridge site and said negotiations are underway for additional in-line retail and a sit-down restaurant.
Council discussed tree-planting and buffering commitments for the multifamily site; staff and the project engineer agreed to adjust landscaping placement so required screening can be achieved without overplanting in constrained areas. The council accepted a staff recommendation to authorize a drafting of a fifth amendment reflecting new start and completion windows and suggested a start date of Oct. 1, 2025 with a 24-month construction window ending Sept. 30, 2027.
The council directed staff to return with the formal amendment for adoption at a subsequent meeting. No formal rezoning was required as the plat actions and prior PUD approvals were already in place.
