Posted Aug 1, 2024, 3:56 AM
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Moderator
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Join Date: Jan 2009
Location: Chicago, IL —-Austin, TX
Posts: 12,739
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Three Residential Development Sites, Minutes from UT Austin & Downtown Austin, Available Through Bankruptcy Sale With Hilco Real Estate Sales
Quote:
NORTHBROOK, Ill., July 30, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces October 7, 2024, as the bid deadline for the Chapter 7 bankruptcy sale of three housing development sites in Austin, Texas, subject to approval by the United States Bankruptcy Court (Bankr. W.D. Tex.): 2513-2515 San Gabriel Street, 2103 Nueces Street and 903 Edgecliff Terrace. These sites are available for sale individually or in any combination, presenting valuable opportunities for developers to capitalize on the student housing needs of University of Texas at Austin (UT Austin) and the ongoing population growth of the larger Austin area.
The first property, at San Gabriel Street, spans 0.32± acres and is surrounded by apartment complexes, student housing and fraternity organizations. Currently vacant and clear of any improvements, this property is zoned MF-4-NP-UNO, Multifamily Residential - Moderate-High Density, making it ready for the construction of a 252-unit residential or student housing structure. Less than a mile southeast is the second site on Nueces Street. This property is currently home to a two-story, 19-bedroom residential complex that is leased to Wranglers, a UT Austin fraternity. Situated on 0.19± acres, this site has the same MF-4 NP-UNO zoning to allow for redevelopment opportunities with the potential to construct a 390-unit multifamily building. Interested buyers are encouraged to contact the Land Development Information Services within the city of Austin for more information on zoning, density and future uses.
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