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GEORGETOWN, TX-Bourn Partners of Tucson hopes to build between 800,000 sf and one million sf of destination retail space at the 350-acre Longhorn Junction mixed-use project, the company said Tuesday. Bourne’s announcement said that the real estate development firm, which maintains a regional office in Austin, plans to develop its retail project on Interstate 35 at Inner Loop in Georgetown as part of the Longhorn Junction master-planned development.

Pending city approvals, Bourn expects to break ground on the retail project in 2009. Don Bourn, chief executive officer of Bourn Cos. LLC, describes Longhorn Junction as “unlike anything currently in Williamson County.” The project is slated to feature family attractions, entertainment venues, unique destination retailers, one-of-a kind restaurants and retailers from both national and local chains.

Bourn Partners has secured phase one financing and has completed land acquisition for Longhorn Junction. It has assembled a team including OTB, a destination development specialist, and IRR Corporate & Public Finance LLC, a national firm specializing in real estate valuation and consulting services.

The Bourn venue will be the second project to be developed within Longhorn Junction. In January 2007, Citicorp announced a $450-million, 250,000-sf data center located on the southern portion of the property, which was completed recently.

The new Bourn project will add to a development pipeline that includes more than 2.4 million sf of commercial space that the company managhes and leases. Bourn Partners opened its Austin office in 2004 to expand its development, investment and brokerage efforts in Texas.

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