The area around Farmer's Market is not ideally suited for a town center.  However, since much of the property may be zoned for mixed use, here is a vision for how you might get to something that is most positive for the current and future residents, businesses, and property owners.

 

Note that one of the biggest challenges is how to deal with traffic.  Unanswered questions include what kind of mass transit there will be on Burnet, and where transit stations will be located.  In the concept vision map below, a MetroRapid station is posited near the intersection of Burnet and Twin Oaks to support the center of residential density for this part of the Burnet corridor.  However, per CAMPO standards, a station here would be too close to another likely station at Burnet and 2222.