Wood Partners has acquired 26 acres of land in the mixed-use Pearl River development in Bastrop County. Wood plans to develop a 650-unit rental community at Hwy 71 and FM 969 about 30 minutes southeast of Austin.

Pearl River acts as master developer of the overall project while selling off the multifamily and hotel parcels to developers. The site is within the 75-acre mixed-use development that will bring a mix of retail, entertainment, dining, medical and residential uses to the fast-growing Bastrop market with completion expected within 24 to 36 months. John Baird, Michael Kennedy and Sullivan Johnston of Avison Young represented Pearl River Cos. in the disposition of the land.

Wood Partners plans to break ground in the next few months on the multifamily site with the first units anticipated to deliver over the next 12 to 18 months with full project completion in approximately 24 months.