Juliet Five Plans Mixed-Use Project in Dripping Springs

Juliet Five LLC recently acquired a 32-acre parcel located at 1635 E. Highway 290 in Dripping Springs, 20 minutes west of downtown Austin. The buyer is planning to develop a mixed-use project incorporating retail, commercial and multifamily uses, however, details of the development are still in planning stages.

“We want this development to compliment the style and history of the city and the surrounding hill country, and believe that our plans for a unique and modern retail, commercial and multifamily concept will be a great addition to the growing city of Dripping Springs that provides more opportunities for the Gateway to the Hill Country,” says Sean Perkins with Juliet Five LLC.

The seller, RRWS Inc., believed this was an opportune time in the market to transact the property, as the Austin metro continues to experience growth in population and employment. Corporations including Apple, Tesla, Oracle and Samsung are among the biggest names that call Austin home.

Avison Young’s John T. Baird, Michael Kennedy and Sullivan Johnson represented the Dripping Springs-based seller. The Avison Young team worked closely with the city of Dripping Springs and the site engineering team to create a clear understanding of critical utility and infrastructure delivery timelines. The team also worked to create multiple development scenarios to illustrate the property’s potential and executed a multi-channel offering to attract qualified prospects from across the country.