Under Contract | 9.41± Acre parcel available on Newton Road near Brackridge Park. Zoned for 153 multifamily units, with the potential to acquire the adjacent site for a combined 20± acres and zoning for 250 units.
19.26± gross acres / 14.35± upland acres
Land use is Medium Density Residential (MDR)
Zoning is PUD
Site plan approval is a requirement
Permissible building height of 48 feet (variance allowable)
The mobility fee equates to $1,251 per unit (city has waived mobility fees through year-end 2020)
Submarket year-over-year rent growth at 3.2%; Current submarket occupancy rate at 95%; Submarket’s average rental rate p/SF is $1.20
Property is located to the west of the heavily traveled Southside Blvd. corridor
Abundant retail, medical, entertainment and service amenities in close proximity
• Located just north of the Tapestry Park and Tinseltown developments and within close proximity to the St. Johns Town Center
- Property Type
Land
- Total Acres
9.41
- Last updated
Dec 20, 2023
- Property ID
2104472
