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 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, offering an opportunity to fill demand with new units.
Extraordinarily well-located on I-20, this location is subject to a forthcoming TXDOT expansion that will further benefit the property and access. The expansion is confirmed, and land in the area is being purchased by TXDOT as we speak.