Page 16 - Georgetown Retail Merchandising Plan 11.7.16 - FINAL

HOUSING there are 180,875 total households within the County with an average
Georgetown has a strong base of residential development. Over household growth of 6,000 units per year. Assuming a 10% capture
two-thirds of residents in Georgetown are owners, compared to rate of County growth, there is an estimated annual demand for 882
only about one-half of residents in the Austin MSA. This reflects new single-family units per year in Georgetown. This would create an
a higher propensity to own; owners tend to be more established additional annual retail demand of $18.5 million, and support 62,000
in the workplace and/or intending to invest in Georgetown for the square feet of new retail in Georgetown per year.
long-term. However, a diversified housing base can attract a wider
audience and corporate users are seeking areas with wider housing Housing can be used to leverage higher quality mixed-use
choices, including multi-family and other mixed housing. developments if properly integrated into the planning process. For
example, The Summit at The Rivery has townhomes and multi-family
Our findings also show that Georgetown has a low percentage integrated into the project. Residential in a mixed-use setting can
(4.7%) of housing stock with value under $100,000 and a high activate the streetscape, create a diversified base to the developer,
percentage (36.9%) of housing stock with value between $200,000 have greater service efficiency and increased tax revenue to the city,
and $299,999. This could also suggest an opportunity for broader and offer built-in retail base.
housing for lower incomes, as many communities with high median
home values struggle with labor to support retail. As Georgetown explores implementation of this Merchandising Plan,
residential should be encouraged in certain developments that are
Median Home Value integrated into a mixed-use scenario, if the residential can help inform
higher quality commercial development.
Georgetown $257,667

Round Rock $226,957

Pflugerville $225,520

Leander $224,351

Cedar Park $280,196
$- $50,000 $100,000 $150,000 $200,000 $250,000 $300,000
2015 Comparative Housing Values (Source: ESRI, Census)

Residential is a large component of retail demand, therefore to predict
future demand, Catalyst calculated demand potential for single-
family housing in Georgetown. To calculate demand for Georgetown,
Catalyst used the County growth model as a baseline. As of 2016,

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