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1,000 new homes planned for Parmer Ranch community in Georgetown

The new development is estimated at $500 million, according to the Austin Business Journal.

GEORGETOWN, Texas — In case you forgot, Central Texas is still booming and thousands are still flocking to Austin's suburbs.

The latest master-planned community is headed to Georgetown. According to the Austin Business Journal, the 454-acre development called Parmer Ranch will consist of more than 1,000 residential homes, 100 acres of commercial development, 47 acres of parkland and sites for schools.

The developer tapped for the project is Owen Holdings. Joe Owen of Owen Holdings said the homes will be the priority as more people flock to the suburbs.

The development will be found at Ronald Reagan Boulevard and Williams Drive. It's centrally located between U.S. Highway 183 and Texas State Highway 195, about 20 minutes north of Downtown Georgetown.

According to the report, homebuilders working on the project include Gehan Homes, Empire Communities, Sitterle Homes and GFO Home with prices starting around $250,000.

For the full report, click here.