Developer outlines Bellevue Estates: 685 homes, PID financing and four‑phase timeline

Developer Steven Smith (Pillar and Vine Development) and PID consultant Patrick Born presented a concept plan for Bellevue Estates on Stillhouse/Steel House Road, a 119‑acre master‑planned community inside city limits.

Smith said the concept includes 685 single‑family homes on 40×120 lots, priced generally between $200,000 and $385,000 depending on market demand. The plan envisions three neighborhood parks, green‑belt trails and three access points to North Marr School, with a goal that many homes be walkable to school. Smith said the developer has a contract with D.R. Horton to build homes if the project proceeds.

On financing, Smith and Born outlined a public improvement district (PID) approach to fund about $19 million in infrastructure across four phases; Smith said developer‑installed infrastructure in similar projects has been roughly $4.5 million in early phases. Born explained that PIDs let developers borrow at rates lower than equity alternatives and that the city does not carry the initial cost: "At every step along the way, the developer comes back and requires approval from city council," Born said. Both presenters said the PID and bond steps would return to council in future meetings and that the developer expected to present a PID petition next month and create the PID in December, with bond issuance in 2026 if the process continues.

Smith estimated the development could generate about $727,000 in annual revenue for the city (taxes only) and said he plans to use local contractors where possible. Council asked clarifying questions about the PID process; staff noted no action was required at this meeting.