An incredible opportunity to own developable residential land (zoned MF) in a city that, per CoStar has historic demand for premium units, is building new roads and zoning new multifamily, and encouraging new development and growth. Also per CoStar, asking rents have risen 6.7-9.5% in the last 12 months overall, and 12.0% in the premium segment. Our offering is priced to allow for a low-basis entry into a rapidly heating premium apartment market.
17.22 AC of developable land, within Multi-Family zoning, adjacent to a power sub-station (AEP, who is ready, willing, and able to increase power at this site), and adjacent to local residential, medical, self-storage, school, and governmental rooftops.
Per CoStar there are no apartment construction deliveries planned in the next 2+ years, equating to opportunity to fill demand with new units.
Extraordinarily well-located on I-20, and subject to a forthcoming TXDOT expansion that will further benefit the property, and traffic flow. The expansion is confirmed, and land in the area is being purchased by TXDOT as we speak.