BASTROP – The 65-acre Pearl River development will soon be home to commercial space that will include a new rental community and office and retail. But there’s a catch.
Pearl River will be the first development under the Bastrop Building Block Code associated with tree mitigation. In exchang for the land permit, the city requests Blakely plant 1,232 trees around the city or pay $975,000 to Bastrop’s Tree Mitigation Bond for the city to do so.
Six heritage trees were knocked down in the clearing of the Pearl River project. Originally estimated at around $1 million, mitigation costs were valued at $235,800 for the 14-acre lot and $739,200 for the 50-acre lot.
Blakely Owner Apartments will build the development’s 650-unit multifamly complex at SH 71 and FM 969.