Killeen’s real estate market is poised for further growth following City Council approval of a major 300-acre development along North Roy Reynolds Drive. The project combines residential and industrial uses, introduces new open space and infrastructure, and is expected to significantly expand the city’s tax base while supporting long-term development in north Killeen.

The approved Killeen real estate development will transform approximately 300 acres into a mixed-use area featuring about 170 acres designated for residential development and 130 acres planned for manufacturing. The residential portion will include 188 40-foot lots, 219 50-foot lots, and 129 60-foot duplex lots.

The plan also sets aside roughly 56 acres of privately maintained HOA open space, with a walking trail planned for residents. City officials noted that the project could encourage additional development in the surrounding area as the population grows and demand for services increases.

Of the 128 nearby residents notified about the proposal, only one submitted a written objection. The concern focused on the project’s drainage plan, which was addressed during the council’s review.

The City Council also unanimously approved a reimbursement of up to approximately $3.99 million through Tax Increment Reinvestment Zone (TIRZ). The incentive applies to improvements associated with the project’s industrial component and is intended to help stimulate development by supporting infrastructure investment.

The reimbursement will be generated through future growth in the area’s tax base rather than applying to the residential portion of the project. Officials estimate that the completed development could add approximately $657.8 million in real property tax value.

Supporters emphasized that the developer is taking on significant upfront financial risk. Council members also highlighted the potential for new employment opportunities, infrastructure improvements, and additional investment throughout north Killeen.

The project represents a significant step forward for Killeen real estate development, combining new housing, industrial opportunities, open space, and infrastructure investment. With nearly $4 million in approved reimbursement and an estimated $657.8 million increase in taxable property value, the development could have a lasting economic impact. As construction and surrounding investment progress, the project may help shape the future growth and expansion of north Killeen.