AUSTIN, TX—The Travis County purchasing agent is soliciting development proposals for a prime downtown Austin infill site comprising a full city block. The county seeks proposals that maximize value for the 77,215-square-foot site, which could be developed to a 25:1 floor area ratio based on the city's density bonus program.
The site at 308 Guadalupe St. is bounded by Third and Fourth streets to the south and north, and Guadalupe and San Antonio streets to the east and west. Previously considered for public use, the site was recently repositioned to leverage its substantial value. The site is adjacent to significant development projects valued at more than $2 billion and is the most prime undeveloped block in downtown Austin, unrestricted by Capitol View Corridor limitations.
“Travis County is very excited about the level of interest the market has shown to our offer,” Belinda Powell, economic and strategic planning managing director of the Travis County planning and budget office, tells GlobeSt.com. “Our goal is to maximize the benefit to county taxpayers through the development of this prime downtown Austin block in a manner that continues to enliven what is emerging as a very vibrant part of downtown.”
Communications throughout the solicitation process are limited to the county purchasing agent and pre-approved county agents. Questions can only be submitted via the county procurement website. Proposals are due to the county purchasing agent by November 9, 2016 at 2:00 p.m.
Todd Mills, Jerry Frey and Eric DeJernett with CBRE's capital markets, advisory and transaction services teams in Austin, are teaming with Peter Jansen and Michael McShea, with CBRE's public institutions and education solutions group, to represent the Travis County commissioners' court in the solicitation process.
“In response to our constituents and voters, we are seeking to leverage the potential of this site, steward its value, and ultimately deliver enhanced county services by reinvesting the proceeds into our future civil and family courts complex. We are excited to be executing a competitive process that enables us to concurrently achieve county policy goals and maximize value,” said Travis county judge Sarah Eckhardt.
AUSTIN, TX—The Travis County purchasing agent is soliciting development proposals for a prime downtown Austin infill site comprising a full city block. The county seeks proposals that maximize value for the 77,215-square-foot site, which could be developed to a 25:1 floor area ratio based on the city's density bonus program.
The site at 308 Guadalupe St. is bounded by Third and Fourth streets to the south and north, and Guadalupe and San Antonio streets to the east and west. Previously considered for public use, the site was recently repositioned to leverage its substantial value. The site is adjacent to significant development projects valued at more than $2 billion and is the most prime undeveloped block in downtown Austin, unrestricted by Capitol View Corridor limitations.
“Travis County is very excited about the level of interest the market has shown to our offer,” Belinda Powell, economic and strategic planning managing director of the Travis County planning and budget office, tells GlobeSt.com. “Our goal is to maximize the benefit to county taxpayers through the development of this prime downtown Austin block in a manner that continues to enliven what is emerging as a very vibrant part of downtown.”
Communications throughout the solicitation process are limited to the county purchasing agent and pre-approved county agents. Questions can only be submitted via the county procurement website. Proposals are due to the county purchasing agent by November 9, 2016 at 2:00 p.m.
Todd Mills, Jerry Frey and Eric DeJernett with CBRE's capital markets, advisory and transaction services teams in Austin, are teaming with Peter Jansen and Michael McShea, with CBRE's public institutions and education solutions group, to represent the Travis County commissioners' court in the solicitation process.
“In response to our constituents and voters, we are seeking to leverage the potential of this site, steward its value, and ultimately deliver enhanced county services by reinvesting the proceeds into our future civil and family courts complex. We are excited to be executing a competitive process that enables us to concurrently achieve county policy goals and maximize value,” said Travis county judge Sarah Eckhardt.
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