New York land developer plans for big-box anchors and industrial sites adjacent to Texas 130 (TTC-35)
Major mixed-use project slated near Texas 130
New York real estate company buys 389 acres for residential, retail, industrial uses.
November 03, 2005
By Shonda Novak
Austim American-Statesman
Copyright 2005
A New York real estate company is buying 389 acres near the intersection of the future Texas 130 and Texas 71, planning a major project that could include up to 1 million square feet of retail, a hotel, housing and possibly some industrial uses such as warehouses.
It would be one of the first big mixed-use projects in an area poised for significant development once Texas 130, a toll-road bypass for Interstate 35, opens in about two years.
Eastbourne Investments Ltd. wants to break ground in advance of that date, according to Adam Love, a land specialist in the Austin office of Colliers Oxford Commercial, which represented the buyer and will market the land.
Love said his company already is talking with potential big-box anchors and industrial users who might be interested in the site.
The land is bounded roughly by Texas 71 on the north, FM 973 on the west, Onion Creek on the south and Texas 130 on the east. It has nearly a mile of frontage along Texas 71.
Although Texas 130 won't open until late 2007, there already has been a surge of residential development in the area, which is east of Austin-Bergstrom International Airport.
But there is no major shopping area nearby for people moving into the new subdivisions. People who live in the area must travel as much as 15 miles into Austin or Bastrop to buy groceries or do other shopping.
The area is "completely underserved. The demand is already there right now," Love said.
Philip Bible, a land specialist with NAI Commercial, said the location is "ideal for a mixed-use project," with its proximity to major roads and "significant single-family residential growth under way, with more coming in that area."
There are several subdivisions just east of the airport. In September, Makar Properties said it planned to build more than 2,000 homes, condominiums and apartments on 417 acres east of the airport. That development, called Watersedge, also would include almost 470,000 square feet of retail space.
Texas 130, already under construction in Williamson County, is expected to set off a building boom in eastern Travis County, where there is abundant land but little development.
Harry Scott, a Colliers Oxford partner, said Eastbourne has the land under contract from the owners, the Carr family.
Eastbourne, based in Williamsville, N.Y., has interests in mixed-use and industrial developments across the country, including in the Houston area.
Austin American-Statesman: www.statesman.com
New York real estate company buys 389 acres for residential, retail, industrial uses.
November 03, 2005
By Shonda Novak
Austim American-Statesman
Copyright 2005
A New York real estate company is buying 389 acres near the intersection of the future Texas 130 and Texas 71, planning a major project that could include up to 1 million square feet of retail, a hotel, housing and possibly some industrial uses such as warehouses.
It would be one of the first big mixed-use projects in an area poised for significant development once Texas 130, a toll-road bypass for Interstate 35, opens in about two years.
Eastbourne Investments Ltd. wants to break ground in advance of that date, according to Adam Love, a land specialist in the Austin office of Colliers Oxford Commercial, which represented the buyer and will market the land.
Love said his company already is talking with potential big-box anchors and industrial users who might be interested in the site.
The land is bounded roughly by Texas 71 on the north, FM 973 on the west, Onion Creek on the south and Texas 130 on the east. It has nearly a mile of frontage along Texas 71.
Although Texas 130 won't open until late 2007, there already has been a surge of residential development in the area, which is east of Austin-Bergstrom International Airport.
But there is no major shopping area nearby for people moving into the new subdivisions. People who live in the area must travel as much as 15 miles into Austin or Bastrop to buy groceries or do other shopping.
The area is "completely underserved. The demand is already there right now," Love said.
Philip Bible, a land specialist with NAI Commercial, said the location is "ideal for a mixed-use project," with its proximity to major roads and "significant single-family residential growth under way, with more coming in that area."
There are several subdivisions just east of the airport. In September, Makar Properties said it planned to build more than 2,000 homes, condominiums and apartments on 417 acres east of the airport. That development, called Watersedge, also would include almost 470,000 square feet of retail space.
Texas 130, already under construction in Williamson County, is expected to set off a building boom in eastern Travis County, where there is abundant land but little development.
Harry Scott, a Colliers Oxford partner, said Eastbourne has the land under contract from the owners, the Carr family.
Eastbourne, based in Williamsville, N.Y., has interests in mixed-use and industrial developments across the country, including in the Houston area.
Austin American-Statesman:
posted by Porkus Maximus Tex: at Thursday, November 03, 2005
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