A pact is expected to be signed within 60 days, a TransworldProperties' source tells GlobeSt.com. "There's been a lot ofinterest," says the source. Key to the interest is the precisereason that Transworld Properties is undertaking the $30-millionproject.

The 7.5 acres, which abuts the Stonebridge Plaza I officeproject, is being developed with practically a free hand since ithas all of its entitlement permits in place--a rarity, according tothe company spokesman. "Austin is very restrictive in itsdevelopment... it's an environmentally sensitive area," he says,citing this as cause for the current low supply of class Adevelopment sites. That is particularly true of the MoPac corridor,says the spokesman. The project, which launched in mid-August, issituated northwest of Research Boulevard and North MoPac in whatofficials describe as Austin's Golden Triangle, the intersection ofMoPac, Texas 183, and Loop 360.

"Unlike Dallas or Houston, Austin just can't grow on a whim orwhere you want it to grow," he says. Development these days lies inthe capital's north and south sectors, stretching into ruralcommunities where restrictions aren't so overbearing.