$700M Housing Project Set for Austin Watershed

Crews are doing prep work on a $700 million project in a watershed area that's expected to bring more housing and commercial space to Austin.

The project is called Tecoma and is by Austin-based developer Stratus Properties Inc. It's expected that it'll bring more than 1,800 apartments and townhomes to Austin and over a million square feet of commercial space.

The Austin American-Statesman reports that a local environmental group says it'll oppose the development, which is planned to start this year.

City officials say they're allowing the company to build part of its project under less strict environmental rules. They say the firm's preliminary plans were approved before a voter-approved ordinance was passed.

That measure protects water quality by putting stricter limits on developments in the watershed.