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Kim Gatley
enior Vice President & Director of Research at REOC Austin

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Travis County negotiates with developers

County commissioners unanimously voted Tuesday for staff to begin negotiating with one of five unidentified real estate development firms to sell the 300 block of Guadalupe Street just south of Republic Square Park in the heart of downtown Austin.

The property is currently home to a parking lot and, occasionally, a food trailer. But it was also the site where Travis County officials had hoped to build a new court facility to alleviate overcrowding. Voters in 2015 defeated a $287 million bond referendum to fund the construction of such a courthouse.

Subsequently, county officials sought to return the land back to private interests. Travis County first bought the property in 2010 for $22 million. Eight bids were received from various real estate developers. The lowest three bids were discarded.

Despite voting to proceed with negotiations, Travis County officials have not revealed the identity of the leading bidder.

Click here to read the full article: Travis County negotiates with developers


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