One of the largest undeveloped tracts of land in Central Austin will likely be developed by Milestone Community Builders, which was the top bidder for the 75 acres east of MoPac Boulevard at Bull Creek Road and West 45th Street. The sale is expected to be final in early 2015.
A subsidiary of Milestone offered $46.7 million, beating out five other bidders. Milestone, which is locally based, told the Austin American-Statesman that plans for the site will include single-family homes, but other details have yet to be determined. The land is currently owned by the Texas Department of Transportation, and switching ownership to private hands means it will be back on the tax rolls.
At one point earlier this year, the City of Austin had considered buying the land, but fell several millions of dollars short. Councilmembers voted in October not to proceed with the purchase.
Member of the Bull Creek Road Coalition, which is made up of members from seven area neighborhoods, have said they hope green space will be part of the tract’s future development.
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