This Property is Off-Market

190 Acres in Bastrop County

0 Highway 71 West Bastrop TX 78602  |  Bastrop County, TX
  • $3,500,000
  • 190 acres

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Listing Status: Off Market
Listing Type: Sale
Property Type(s):
Irrigated: No
Residence: No
Property ID: 816831

Property Description

Property: The residential component is approximately 190 acres, nestled along the Colorado River. Current design for the residential portion of the project calls for approximately 436 single family units.

Entitlements: A development Plan has been approved on the property and consists of 67 acres zoned C-1 Commercial district (Light) and a 1.89 acre site zoned C-2 Commercial district (Heavy). These zoning categories allow for office, retail, shopping, and some residential uses.
The remaining 242 acres is zoned for residential development with approximately 205 acres zoned Single family Sf-7, 11.2 acres zoned Multi-family,Mf-2 and 26.23 acres zoned Pd Planned development.
The City of Bastrop unanimously approved a development agreement in November 2013 for the entire area with plans for roadways, signage, water and wastewater commitments, drainage improvements, and variances desired by the developer. The elimination of the requirement for on-site detention for the commercial areas has been incorporated into the development agreement.

Taxes: Low due to agricultural valuation.

Price: $3,500,000 ($18,421 per acre)

Comments: Pecan Park is a well located mixed use development. This is one of very few sites in the City of Bastrop which incorporates one of the greatest attributes in the region, the Colorado River, an amenity which is priceless. The site is west of a Super Wal-Mart-anchored retail center and across the highway from a H.E.B.-anchored center. Recent area retail also includes Home Depot, Walgreens, Lowes, Best Buy, Specs, Buck-ees, and Sears. Construction is underway upgrading Highway 71 to a four-lane freeway with frontage roads. The off-ramp for east-bound traffic is located approximately 400 feet before the property and the on-ramp for west-bound traffic is close-by and accessible. Annual daily traffic counts on Highway 71 are estimated to be in excess of 50,000 in this location. The City of Bastrop's population has increased by 36% between 2000 and 2010. During that same time population in the County increased by 28%. New home prices in the Bastrop area range from $140,000 to well over $1,000,000.

Development: A development Agreement was unanimously approved for the entire property in November 2013. The current conceptual development plan proposes 650, 60 to 70 lots and 37 acres for multifamily dwellings as well as public parkland and an amenity center along the Colorado river. Portions of the overall Pecan Park project not included in this offering include zoned for single family and multi-family uses in Sections 4 and 5

Section 5 Rezoning: Owners have received approval for a zoning change for section five of the development from AOS, Agricultural Open Space to PD, Planned Development for +/-26.25 acres which will allow for 91, 65' wide Single Family Residential lots with 7.5' side setbacks.

Property Map

Driving Directions

Pecan Park is located near downtown Bastrop on the south side of Highway71 West at Schaefer Road in Bastrop, Bastrop County, Texas. The east boundary is Perkins Street and the south boundary is the Colorado River. The development is approximately 30 miles east of downtown Austin and 20 minutes east of Austin-Bergstrom International Airport. The site is 115 miles from Houston. The property contains approximately 650 feet of frontage on the south side of Highway 71 West.

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