DEVELOPMENT

DEVELOPMENT

DAVID WOLF

Carries On His Family’s Real Estate Legacy

All around Georgetown, the Wolf family’s footprint is visible, with four of their developments serving as major economic engines—Wolf Ranch Town Center and Wolf Crossing shopping center, as well as residential Wolf Ranch Hillwood and the coming Wolf Lakes Village. Gatlin Creek, 17 acres of land just off Williams Drive between Lake Georgetown and Sun City, will soon emerge as the newest element in this mix of real estate powerhouses.

LAND HERITAGE

David Wolf, son of Jay and Bettie Wolf, has strived to carry on his family’s real estate legacy throughout Georgetown. “I want to be a good steward of these properties I acquired through the hard work and saving and scrimping of my parents,” he says.

He fondly remembers growing up on the land Wolf Ranch sits on now at the southwestern corner of I-35 and Highway 29. “My parents bought that land in the 1950s, way before there was a thought of 35,” he says. The Wolfs originally used the tract for ranching in what was, at the time, a predominantly agricultural Georgetown. It would be 50 years before Simon Properties would come knocking on their door, wanting to develop a shopping center on 100 acres of Wolf land.

Wolf Ranch Town Center, which David calls a “power center”, opened its doors in 2005. Thanks to the Target, Kohl’s, and other retail and restaurant options at Wolf Ranch, Georgetownians have been enriched and are able to keep their tax dollars local, rather than providing them to other cities.

David furthered his real estate mission by selling his land southeast of I-35 and Highway 29 to CSW Development for the Wolf Crossing shopping center. He plans to continue his goal of bringing economic prosperity to Georgetown with his Gatlin Creek property, which his parents bought using funds from the sale of their land that later became Lake Georgetown. “Those big players are the kind of users I’m hoping for,” he says.

GATLIN CREEK

“I’m providing a canvas here,” David says about Gatlin Creek, envisioning a development that might possibly cater to the land’s retirement community neighbor, Sun City, such as an assisted/independent living home. He also pictures a shopping center similar to Wolf Crossing, although that might not end up being the best option, considering COVID-19’s impact on the retail market and changed perspectives on entertainment and restaurants, he adds. “The market will dictate what is needed there and what will be economically viable. I’ll allow the market to come into play to figure out what the highest and best use is going to be.”

David initially marketed the land in 2008 to developers, but utility challenges brought his efforts to a halt a few years ago as the City of Georgetown expanded its water

service area further west along Williams Drive to Gatlin Creek. He has since sold 5 acres to an apartment developer and 22 to residential developer Century Communities and is now waiting for another developer to take the remaining 17 acres off his hands.

FONTANA LAKES

Another project David is eying, further down the road, is Fontana Lakes, about 75 acres of land at Northwest Boulevard and I-35 that

charlotte@wilcobr.com images provided by David Wolf

remained undeveloped until the City of Georgetown’s recent Northwest Boulevard project. The City is building a new I-35 overpass at Northwest Boulevard that will serve as a new east-west connection over the interstate. David is looking forward to the project’s completion because it will solve his property’s main problem—lack of accessibility. “Now you’ll be able to access the property from every direction,” he says.

David says he anticipates Fontana Lakes mirroring the development near Old Settlers Boulevard in Round Rock, but doesn’t want to get ahead of himself. “The I-35 bridge needs to be completed before Fontana can be developed,” David says, adding that Georgetown’s population is another factor for consideration. “It’s inevitable that we will have a population base to have those users come in, in the next five to ten years.”

Fontana is getting close to being ready for a Saltgrass, Chuy’s, Topgolf, and hotels.

˜ David Wolf

“It’s so great to have people who grew up here and have invested their lives and money into Georgetown. I can’t wait to see the development take shape.”

˜ Georgetown Mayor Josh Schroeder

David and I grew up together and used to hunt on the land that would become Gatlin Creek. I think he’s done a wonderful job developing the property. He had some challenges, but he put a great team together to create a master plan for the property. I think the housing development is gorgeous and he has plans for high quality commercial development up front.