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Westlake Drive Land Attracts 12 Development Proposals
In June 2017, the city of West Lake Hills, TX issued a request for proposals to convert 2.5 acres at 110 Westlake Drive into potential commercial real estate. Once the RFP process closed on Nov. 20 2017, the city, which is just west of Austin, ended up with 12 development proposals.
Proposals from interested developers include development of office buildings, homes and town houses, and even an aquatic center. Monetary offers for the land was between $800,000-$2.7 million. The land parcel is currently zoned Government, Utility, Institutional (GUI).
A town hall meeting is scheduled for early 2018, which will give residents the opportunity to review submissions and provide feedback. The City Council will not take action before the meeting, and could end up keeping the land, instead of selling it.
For comments, questions or concerns, please contact Texas Commercial Real Estate News Editor Amy Sorter
- ◦Development