Multifamily development would be located on the corner of VMB and WS Young.
Killeen City Council is considering a new multifamily development project in north Killeen and the formation of a Public Facility Corporation for the development. A public forum regarding the issue will be held Thursday, December 10, at 5 p.m. at Killeen Civic & Conference Center, 3601 S. WS Young Drive.
The proposed project would be located on a 25.77-acre vacant tract of land at the southwest corner of Veterans Memorial Boulevard and WS Young Drive. The parcel has access to both thoroughfares.
The NRP Group, the seventh largest multifamily developer in the country, states the project will have approximately 368 units with one to three bedrooms. The $51 million complex will have high-quality construction, finishes and amenities that include a clubhouse, pool, fitness room, dog park and common areas.
The project proposal requires creating a Public Facility Corporation (PFC), which under state law provides for certain exemptions from taxation. To qualify for these exemptions, at least 50 percent of the units in the multifamily development must be reserved and priced for occupancy by tenants earning less than 80 percent of the area median income.
Staff and the developer will attend the forum to describe the project and associated actions. The public is invited to attend the presentation and will have an opportunity to ask questions.
Information about the project is attached to the December 10 online meeting agenda available at https://killeen.legistar.com/Calendar.aspx.
City Council will consider an amendment to the Future Land Use Map and a zoning change for the property at its December 8 meeting at 5 p.m. at City Hall, 101 N. College Street. Documentation is attached to the December 8 online meeting agenda available at the above link.