About McClung Properties


Neill McClung  -  512-785-6810  -  Mcclungneill@gmail.com

Neill McClung is the Principal and Broker of McClung Properties, Inc.

Previously he served as the Managing Director for KW Commercial's NW Market Center in Austin, Texas.  In his first year with KW Commercial, he was in the top 100 producing commercial brokers for all of KW Commercial nationally.  

Recent closings include:

Represented the buyer for a retail center in Midland, TX.

Represented the 1031 buyer for multiple occupied Legends condominiums in Round Rock.

Represented seller of 821 Grand Avenue Parkway, Building # 3 (office park) in Pflugerville.

Represented seller of 69-acres paper lots for residential development in Manor.

Represented seller of 75 acres for commercial development on Westinghouse Road in Georgetown.

Represented buyer on purchase of 20 acres for office condo development on Loop 250 and Lamesa Highway, Midland, TX.

Represented seller of office building in Pflugerville.

Represented the buyer of 11 lots for residential development in Lakeway.

Represented the owner of a 6,000sf multi-tenant building in Dripping Springs in the sale to two doctors.

Represented the buyer in the purchase of three pad sites for build to suits in Dripping Springs.

Represented buyer for 3,600 s.f. medical/office building in Georgetown Texas, and

Represented buyer for 2 retail pad sites on RR 620 at the Lakeway Regional Medical Center.

McClung provides commercial real estate investment brokerage, including acquisitions and sales, REOs, partnerships and joint ventures / private placements, as well as property leasing and management.

Neill McClung works directly with hundreds of real estate agents and owners specializing in all commercial products - including multifamily, office, retail, development, land, industrial and hotel/special use. 

Neill McClung has strong relationships with all the major commercial real estate brokerage companies in the State.  This provides an advantage to acquisition opportunities early and often off-market.

Mr. McClung is a licensed real estate broker in Texas, and a General Partner for income partnerships.  

Neill McClung is both an Austin local and a nation-wide commercial real estate broker with significant properties  managed, bought/sold, and leased in California, Arizona, Oklahoma and Nevada.

Mr. McClung's past experience as an executive with Heitman and Midland Red Oak offer the leadership and management skills needed to successfully direct and close sophisticated commercial real estate projects.


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McClung Properties, Inc. often assists clients with 1031 and other Tax Deferred Exchanges.

Neill McClung recommends Greg Lehrmann, with Asset Preservation, Inc. for your 1031 exchange business.  

Greg is an attorney and the Texas/Oklahoma Division Manager for Asset Preservation, Inc., a subsidiary of Stewart Title Company.  Mr. Lehrmann is a "Qualified Intermediary" and has handled over 140,000 exchanges throughout the country.


To Contact Greg Lehrmann:

phone - (512) 551-4232, email - greg@apiexchange.com

5604 Southwest Parkway, Suite 3234
Austin, Texas 78735


For more information on the many tax-deferred exchanges available through Asset Preservation, Inc. - please visit their website at:

http://apiexchange.com/

      Compliments of Greg Lehrmann
A §1031 Qualified Intermediary      

Combine Reverse & Delayed Exchange for 360 Days 

Tax-deferred exchanges have been part of the U.S. Tax Code since 1921. Since that time, the government has approved certain methods to structure exchange transactions that are so called “safe harbors.” For example, in 1991 the U.S. Treasury issued final regulations that provided important guidance on the structure of delayed exchanges, including guidance regarding the 45-day identification period and 180-day exchange period set forth in Section 1031 and other procedural requirements. On September 15, 2000, the Internal Revenue Service released Revenue Procedure 2000-37 that provided guidelines for structuring reverse exchanges (a transaction in which replacement property is acquired by an accommodating party before the sale of the relinquished property, and held as replacement property to complete the exchange).

A replacement property may be acquired and held (sometimes called “parked”) by the accommodating party for up to 180 calendar days. The IRS provided guidance (See ILM 200836024) approving the combination of a reverse parking arrangement exchange and a forward delayed exchange resulting in two sequential 180-day exchange periods associated with one exchange transaction. Read more… 



Foreign Trade Zones are among the many attractions to Central Texas.  For more information on FTZ's, please visit:

http://www.governor.state.tx.us/files/ecodev/TexasFTZs.pdf


McClung Properties Mission Statement


McClung Properties, Inc. is a specialist commercial real estate firm offering investment brokerage, buyer representation and partnerships for acquisition of single tenant, value-added income properties and land investments in growth corridors, 1031 tax differed exchanges, and long term appreciation holds.


Notable recent examples include Lake Creek Square Center in Round Rock, Texas Heritage Plaza in Georgetown, and three office buildings in the Arbor Business Center in Dripping Springs.  McClung lists unique opportunities, most of which are not publicized until closing, for example, Northcross Mall and land tracts on Westinghouse Road.


McClung Properties was ranked in the Top 25 Commercial Real Estate Brokerage Firms by the  Austin Business Journal, for 2006 and 2007. 


Neill McClung was a Senior Vice President with Heitman Financial for 10 years with a 6 million square foot portfolio of institutional office properties in major markets across the U.S.  Prior to moving to Austin, he started and grew a start-up southwestern acquisition company to $200 million of high profile reposition mixed-use and retail properties. As CEO, he was responsible for leasing and managing 3 million square feet of owned properties and another 3.5 million square feet of third party managed properties with over 160 employees.  


Mr. McClung also has significant brokerage experience at the national level working for 10+ years at Heitman Financial, managing over 300 employees and 8 million square feet of institutional office repositions. 

The national and regional experience of McClung Properties lends a valuable perspective for our clients.  


To maximize client and partnership investments, McClung Properties, Inc. also offers full-service Property Management, Bookkeeping and Leasing. 
 
For our clients and owners, we have experience facilitating repairs, managing accounts and invoices, collecting rents, generating monthly reports on income and expenses, and bookkeeping include account management, deposits, payment of expenses, and year-end reports to be provided to you tax professional.


We have the business and financial professionals to provide you with monthly reports that are accurate, detailed, and timely. 

We strive for retention and satisfaction of existing tenants, coordinating service with vendors, marketing for leasing of vacant space and/or property sales, all at competitive rates. Our goal is to maximize our client's investments and provide over-all owner satisfaction.

If you are interested in our property management and leasing/listing services, please call Neill McClung at 512-785-6810 or by at mcclungneill@gmail.com


Neill McClung's Bio


Recent Closings:

- Represented seller of 75 acres for commercial development on Westinghouse Road in Georgetown.

- Represented seller of 60 acres in Manor for residential subdivision.

- Represented seller of office building in Pflugerville.

- 2 commercial pad-sites at the new Lakeway Regional Medical Center, with great visibility and access from Ranch Road 620.  Represented buyer.

- The "Austin Avenue" building, a 3,600 s.f. medical/office building near the San Gabriel river and Georgetown's downtown / courthouse square.  Represented Buyer. 

- Midland Office Development Land, 5 acres, Partner.

- 3 commercial pad sites in the heart of Dripping Springs' new "downtown" development. Represented buyer in bank-seller transaction.

- 10 lots in Briarcliff, represented buyer/home-builder relocating from California.

- 10 lots in Lakeway, represented buyer/home-builder.

- 2,500 s.f. lease to Austin Title Company (owned by Fidelity), at 901 Cypress Creek Boulevard in Cedar Park. Represented Landlord.



To Contact Neill McClung:

2918 RR 620 North, Suite 172
Austin, Texas 78734

Cell: (512) 785-6810
Direct: (512) 266-9501

Mcclungneill@gmail.com

Buyers Needs


View Current Buyers' Flyer
NEED TO BUY: 5-20 Acres for Retail Centers

Location: Austin Area
Type: Retail Development Land

Details: Developer looking for 5-20 acres for retail center in Austin MSA. Needs to be located close to retail anchors and density. Must have residential back-up built and occupied.

NEED TO BUY: Existing Retail Center

Location: Austin MSA
Type: Retail Center

Details: Developer looking for retail center to reposition. Needs to be in dense Austin MSA submarket with nearby retail anchor and residential back-up built and occupied.

NEED: Lakeway/Hill Country Galleria/Dripping Springs and South Congress Commercial Properties

Location: West Austin
Type: All property types

Details: Cash buyer looking to purchase OFF market commercial properties in Dripping Springs, Lakeway, Bee Caves around Hill Country Galleria and South Congress. All property types considered.

NEED TO BUY: Long-term leased medical or professional office

Location: Austin MSA
Type: Medical Office

Details: Repeat 1031 buyer for $500,000-$1,000,000 long term leased or sale/leaseback. Austin MSA medical or professional office - 7% cap w/ annual steps on 3 year leases.




Title: The Enclave - Elgin



Price:   Type:   Size:

The Enclave - Elgin Flyer (PDF Format)
Title: The Enclave - Elgin



Price:   Type:   Size:
The Enclave - Elgin Flyer (PDF Format)

     

Title: Brushy Creek Commons



Price: 2,700,000  Type: Office / Retail Building  Size: 13,217 square feet

Brushy Creek Commons Flyer (PDF Format)
Title: Brushy Creek Commons



Price: 2,700,000  Type: Office / Retail Building  Size:13,217 square feet
Brushy Creek Commons Flyer (PDF Format)

 

Title: Land in Leander TOD



Price:   Type:   Size:

Land in Leander TOD Flyer (PDF Format)
Title: Land in Leander TOD



Price:   Type:   Size:
Land in Leander TOD Flyer (PDF Format)

    

Title: 5002-5006 Hamilton Road



Price: $750,000  Type: Land  Size: 0.96 AC

5002-5006 Hamilton Road Flyer (PDF Format)
Title: 5002-5006 Hamilton Road



Price: $750,000  Type: Land  Size:0.96 AC
5002-5006 Hamilton Road Flyer (PDF Format)

   

Title: Pad Site Available- Crystal Fals Pkwy



Price: $400,000  Type: Office Building Pad Site  Size: 12,000 sf

Pad Site Available- Crystal Fals Pkwy Flyer (PDF Format)
Title: Pad Site Available- Crystal Fals Pkwy



Price: $400,000  Type: Office Building Pad Site  Size:12,000 sf
Pad Site Available- Crystal Fals Pkwy Flyer (PDF Format)

    

Title: 2001 E. Park St.



Price: $2,500,000  Type: Land  Size: 10 Acres

2001 E. Park St. Flyer (PDF Format)
Title: 2001 E. Park St.



Price: $2,500,000  Type: Land  Size:10 Acres
2001 E. Park St. Flyer (PDF Format)

 

Title: Leander Retail/Office Building



Price: $475,000  Type: Retail/Office Building  Size: 1,218 SF

Leander Retail/Office Building Flyer (PDF Format)
Title: Leander Retail/Office Building



Price: $475,000  Type: Retail/Office Building  Size:1,218 SF
Leander Retail/Office Building Flyer (PDF Format)

     

Title: Windy Point Park - Lake Travis

Unique Development Opportunity on Lake Travis

Price: None  Type: Land  Size: 11.63 acres

Windy Point Park - Lake Travis Flyer (PDF Format)
Title: Windy Point Park - Lake Travis

Unique Development Opportunity on Lake Travis



Price: None  Type: Land  Size:11.63 acres
Windy Point Park - Lake Travis Flyer (PDF Format)
Title: Title: 819 Ranch Road 620 South

FOR SALE: Retail Development Opportunity - Lakeway Located across the street from Lakeway Commons shopping center, 0.402 acres with water and sewer at 819 Ranch Road 620 S. near Lakeway Boulevard. $1,300,000 http://www.loopnet.com/lid/19319458



Price: 1,300,000  Type: Retail Development Land  Size:0.40 acres
819 Ranch Road 620 South Flyer (PDF Format)

     

Title: 915 Ranch Road 620 South

FOR SALE : Office Building w/ Great Sign in Lakeway on RR 620 Best sign in Lakeway where Lakeway Boulevard intersects Ranch Road 620. Former Boat Candy Building for sale - ideal for law firm, CPA, Wealth manager; with unparalleled exposure for a professional office building. Adjacent to the Chase Bank at Lakeway Boulevard. 1,745 s.f. professional office building w/ city water and sewer at 915 Ranch Road 620 S. Recently remodeled for retail boutique - new wood floors and HVAC. Paved parking area and driveway on 620, w/additional back parking & entrance. 0.46 acres. $980,000 http://www.loopnet.com/lid/19317365

Price: 980,000  Type: Professional Office Building  Size: 1,745 square feet

915 Ranch Road 620 South Flyer (PDF Format)
Title: 915 Ranch Road 620 South

FOR SALE : Office Building w/ Great Sign in Lakeway on RR 620 Best sign in Lakeway where Lakeway Boulevard intersects Ranch Road 620. Former Boat Candy Building for sale - ideal for law firm, CPA, Wealth manager; with unparalleled exposure for a professional office building. Adjacent to the Chase Bank at Lakeway Boulevard. 1,745 s.f. professional office building w/ city water and sewer at 915 Ranch Road 620 S. Recently remodeled for retail boutique - new wood floors and HVAC. Paved parking area and driveway on 620, w/additional back parking & entrance. 0.46 acres. $980,000 http://www.loopnet.com/lid/19317365



Price: 980,000  Type: Professional Office Building  Size:1,745 square feet
915 Ranch Road 620 South Flyer (PDF Format)

 

Title: Corner of 17th and Lavaca - Austin Capitol District



Price: $1,970,000.00  Type: DMU Land  Size: 8,512 s.f.

Corner of 17th and Lavaca - Austin Capitol District Flyer (PDF Format)
Title: Corner of 17th and Lavaca - Austin Capitol District



Price: $1,970,000.00  Type: DMU Land  Size:8,512 s.f.
Corner of 17th and Lavaca - Austin Capitol District Flyer (PDF Format)

The History of McClung Properties


PRIOR TRANSACTIONS

List of Austin-Area Properties bought or sold by McClung Properties, Inc.:

Retail/Office Building in Midland, TX
821 Grand Avenue Parkway, Building 3, Pflugerville, TX
69-acres of paper lots for residential development in Manor, TX
75 acres for commercial development on Westinghouse Road in Georgetown, TX
20 acres for office condo development on Loop 250 and Lamesa Highway, Midland, TX
60 acres for residential subdivision in Manor, TX
Office building in Pflugerville, TX
2 Retail Pad Sites, part of new Regional Hospital, Lakeway, TX
Office/Medical Building in Georgetown, TX
Office/Medical Building in Dripping Springs, TX
Austin Title Lease on Cypress Creek Rd, Cedar Park, TX
5 Acre Office Development Land in Midland, TX
Three Retail Pad Sites, Georgetown, TX
Texas Heritage Plaza, Georgetown, TX
Multi-Tenant Office Bldg, Georgetown, TX
Multi-Tenant Office Bldg, Georgetown, TX
Entitled Commercial Land, Georgetown, TX
Texas Heritage Plaza, Georgetown, TX
2 unit Office Condo Bldg Georgetown, TX
Windsor Village Shopping Center
Lake Creek Plaza, Round Rock, TX
Cambridge Office Condo, Austin, TX
Franklin Bank Bld on Slaughter/Manchaca, Austin, TX
Village Lake Office Condo Bld 7, Georgetown, TX
Village Lake Office Condo 803, Georgetown, TX
Westinghouse Road 95.5 Acres, Georgetown, TX
1500 W University Office Building, Georgetown, TX
The Arbor Center, Dripping Springs, TX
Village Lake Office Condo 1004, Georgetown, TX
Round Rock East Center
Brusy Creek Commons, Round Rock, TX
Northcross JV, Austin, TX
J. Harris Pad at Northcross - Austin, TX
Northcross Pad Sales (Schlotskys & ABC Bank)
3609 Williams Drive, Georgetown, TX
Shady Hollow Office Condo
7001 N IH-35 Land
901 Cypress Creek Office Condo, Cedar Park, TX
Stonegate Office Condo
Westinghouse Road Land, Georgetown, TX
Steele Land Tract, Georgetown, TX
13740 Research Blvd Building E Units 1&2
800 Hwy 290 W Building B The Arbor Center, Dripping Springs, TX
9 Unit Office Condo Portfolio
Building A The Arbor Center, Dripping Springs, TX
Building B The Arbor Center, Dripping Springs, TX
Jonestown Retail Center on FM 1431, North Shore Lake Travis, TX


TOTAL  	800,000+ s.f.  	Amount: Over $90 Million closed.


List of Properties Bought or Sold by Neill McClung for Midland Red Oak Realty (MRO):

Woodhill Building - Midland, TX
Trinity Professional Center - Midland, TX
La Placita Building # 9 - Tucson, AZ
Forrest Oil Building - Midland, TX
Victoria Mall - Victoria, TX
Plaza Oaks - Midland, TX
San Miguel Square - Midland, TX
Town & Country - Odessa, TX
Southwest Plaza - San Angelo, TX
River Oaks Village - Abilene, TX
Colonnade at Polo Park - Midland, TX
Madera Village - Tucson, AZ
Bear Canyon - Tucson, AZ
Plaza Palomino - Tucson, AZ
Bears Path - Tucson, AZ
Reunion Center - Tulsa, OK
Century Plaza Building - Midland, TX
50 Penn Place - Oklahoma City, OK
Independence Plaza - Midland, TX
The Plaza - Tulsa, OK
Crossroads Mall - San Antonio, TX
La Placita - Tucson, AZ
Trinity Towers - Midland, TX

TOTAL	3,664,565  s.f.     Amount:  Over $150 million closed.


List of Properties Managed and Bought or Sold by Neill McClung for Heitman Financial:

Paragon Building, Midland, Texas           
Negotiated a lease with Atlantic Richfield Co. for the entire building.

Hightower Building, Midland, Texas
One year later negotiated an 80,000 square foot lease with Pioneer Natural Resources.

One City Center, St. Louis, Missouri
In 1991 Neill took One City Center, a 375,000 s.f.office building located above St. Louis Center from 20% to 90% occupancy. Leases negotiated included Blue Cross/Blue Shield (107,000 s.f.); Deloitte & Touche (36,500 s.f.); & the Shepard, Phoenix law firm (20,000 s.f.) Major competition was a new Metropolitan Life Building and the CBD during a period where tenants were migrating to the suburbs.

2700 North Central Building, Phoenix, Arizona
Leased 2700 North Central to stability in the weakest sub-market In Phoenix while rates in the overall market dropped. Leases were Structured for shorter terms with free rent up front and higher lease Rates so as to hold value and allow leases to roll as the market Recovered. Some of the major tenants were Xerox and Compaq.

Phoenix, Arizona
Supervised tenant retention in Kenney's Distribution Center (500,000 s.f.) & Honeywell Robotics Tech Center (300,000 s.f.)

Bank of America Plaza, Reno, Nevada
Took property from 70% to 90% occupancy at increased rates (including Federal Judges and large law firms) while new Federal Courthouse was being constructed adjacent to the Bank of America Plaza. Mr. McClung converted a vacant ground floor space to a  10,000 square foot upscale restaurant, Adele's at the Plaza.


References


Neill McClung		 (512)785-6810(c); (512)266-9501(o)  mcclungneill@gmail.com

EDUCATION
MBA in Management, BBA in Accounting

AFFILIATIONS
Texas/National Association of Realtors (TAR/NAR)  

KEY SKILLS
Work closely with board of directors to build successful organization.  Direct decisions for property acquisition and dispositions.  Successfully create value for owners through astute purchase, creative leasing and knowledgeable management of office, retail and industrial properties.  Specialist in revitalizing and turning around commercial properties.

EXPERIENCE:

2003-Present		McClung Properties, Inc., Principal/Broker
Independent investment broker.  Buyer representative with Austin, Midland, Dallas/Ft Worth client base.  Work with trust individual and institutional buyers, and 1031 Exchanges.  Dramatically grow portfolios through acquisitions and property improvements.  Effectively drive change and growth through innovation, trust and consensus building.  Closed $11 Million in 2005, over $42 Million in 2006, and $27 Million in 2007.

2011-2015            KW Commercial
Managing Director
Affiliated with KW Commercial for international platform and systems.  Managing Director at the Northwest Austin Branch Office.  As Managing Director, Neill built the Austin, Texas Northwest Market Center's commercial team from scratch to over 40 agents 

1993-2003		Midland Red Oak Realty, Inc., CEO/Director
Guided the growth and startup of Midland Red Oak Realty, Inc. (a real estate subsidiary of Southwest Royalties, Inc.) into a $200 million company in five years with over 165 employees.  As President Neill was responsible for acquisitions, leasing, repositioning, development, disposition and property value enhancement activities.  Developed broker relations and agent recruiting.  Directed due diligence and acquisitions of over 3,900,000 square feet of office and retail properties throughout the Southwest.  Oversaw all brokerage transactions related to dispositions and portfolio leasing activity.

1983-1993		Heitman Properties, Ltd., Senior Vice President
Started with Heitman as Leasing Manager in Midland, Texas and became Senior Vice President overseeing 7,000,000 square foot portfolio of office and turnaround assets located in a seven state region.  His responsibilities included formulating and implementing marketing and capital improvement budgets and programs; negotiation of major lease transactions; civic and brokerage public relation programs and investor reporting.  Neill was directly responsible for more than 80 employees including asset managers, leasing managers, and property managers.

DEVELOPMENT:
Red Oaks:   380+ acres in Midland platted as residential & commercial. Directed completion of Entitlements, FEMA, and disposition (sold in late 2002).
Saddle Club East:   32.47 acres, 49 residential lots in Midland.  Fully developed.
Lewisville, Texas:    90 acres residential & commercial, fully developed & sold (1998-2001).
Austin:  Development of Multiple Pad Sites
Tucson, AZ:  Development of Multiple Pad Sites

Commercial Real Estate News


Residential, commercial building booming on 620

By:
January 14, 2015


Road to add new residents, businesses in 2015

With plans in the works for major projects in Bee Cave, Lakeway, Hudson Bend and Four Points, a wave of new construction along the RR 620 corridor during 2014 points to continued growth for the region in the coming year.

“The [RR 620/Lake Travis] area will continue to do very well in 2015,” said Mark Sprague, director of information capital at Independence Title Co. “Will it do better than this year or the previous year? Well, that’s pushing it.

“Values will continue to escalate. We’re blessed to be in Austin.”

Lakeway
Construction on the city’s largest project, the 175,000-square-foot Oaks at Lakeway, began in late 2014 but took two years to plan, said Jon Andrus, a partner at Stratus Properties, the project’s developer.

The 90-acre development is expected to be a “true neighborhood retail center” driven by anchor H-E-B that is anticipated to open Oct. 30, he said.

The store will be an upscale model, he said.

“[H-E-B’s] goal is to design a unique store that reflects the culture and character of the area,” Lakeway City Manager Steve Jones said.

The Lakeway Visitors Commission is also considering the tract for a possible arts and/or conference center, Commissioner Gary Shoemaker said.

The 65-acre Lakeway Medical Village is under construction, with its Goddard School—a preschool and after-school care program—expected to be up and running in April, school owner Raul Alvarez said. Alvarez and wife Isa broke ground Oct. 24 on the school site.

Additional medical offices, a Randolph Brooks Credit Union and two hotels—La Quinta and Marriott brands—are proposed for the tract, developer Joel Canfield said.

The Harbor at Lakeway, a 150-room, assisted-living and memory-care community in Lakeway Medical Village, is expected to open in 2015, he said.

A 125-room independent-living facility will also begin construction in early 2015 on the parcel directly behind The Harbor at Lakeway, Canfield said.

The project on the backside of the tract bordering the Lakeway Regional Medical Center—the Wild Cherry Drive development—was approved for rezoning Dec. 15 by Lakeway City Council. This measure will allow future plans for medical offices on the 6-acre site, Canfield said.

Lakeway witnessed the opening of its first acute medical rehabilitation facility—Vibra Rehabilitation Hospital—Nov. 24.

Site plans for Lexus of Lakeway were approved in 2014 by Lakeway City Council, marking a change in the city’s longstanding prohibition against automotive dealerships.

The Customer Convenience Operation includes a service center and car dealership and is expected to open mid-July or August, Marketing Director Cassie LaMere said.

“The city’s focus [in 2015] will be to ensure the success of the projects that are underway and help them live up to everyone’s expectations,” Jones said.

Hudson Bend
Residential development in the traditionally moderately priced Hudson Bend area gained ground in 2014 with four communities slated for construction in the city of Austin’s extraterritorial jurisdiction, or ETJ, off RR 620. The neighborhoods are all zoned to Lake Travis ISD, a factor developers said influenced their decision to proceed in the area that abuts Mansfield Dam.

Lakeside Villas is slated to have its 32 duplex units completed in 2015, said developer Rob Swett. Each unit will have about 400 square feet of outdoor space and an elevator, with the project’s driveway located on Mansfield Dam Road, he said.

A 71-homesite development—Vistas of McCormick Mountain—had been on hold for seven years following the area’s economic downturn, said developer Mike Wilson of McCormick Hilltop Investment Partners. However, the project was greenlighted in 2014, he said.

“It was the last undeveloped parcel in the Hudson Bend area with hilltop and lake views,” Wilson said.

A 14.75-acre project—Canopy at Hudson Bend—is being developed jointly in the La Hacienda Estates subdivision by builder Castle Rock Communities and Eck Lane Properties, developer Cosmo Palmieri said.

The gated neighborhood will feature 38 detached homesites with 40 percent of the property dedicated to greenspace, said Lance Wright, owner of Castle Rock Communities.

“[Canopy] should be a really nice enclave community,” Wright said. “[Its style] will be more consistent with the modern areas of Austin—a more hip, contemporary product.”

Waterfront community Waterfall on Lake Travis will feature lake views from some of its 36 condominium units, said Palmieri, who is developing the project with Kelly Gray. Buyers will have the option to rent a boat slip from the adjacent South Shore Marina, he said.

Four Points
Reaching east of Lake Travis, developers are adding more commercial and residential projects on RR 620.

Taylor Morrison broke ground Oct. 6 on its final Steiner Ranch neighborhood—the 84-homesite The Grove at Steiner Ranch, Vice President Adib Khoury said. It adjoins a tract slated for TR Vista’s custom home community.

Shopping center High Pointe Village is being offered for lease and purchase, said owner Nancy Bui of the planned 70,000- to 80,000-square-foot commercial development. However, further progress on the project may wait until the Texas Department of Transportation completes a study for a bypass roadway to cut through the tract and make access easier, she said.

Four Points received two major medical facilities along RR 620 in 2014—the Austin Diagnostic Clinic and the Austin Regional Clinic.

Owned by Jennifer Burton, preschool Goddard School of Steiner Ranch opened Dec. 1 in the Quinlan Crossing shopping center.

A 150-unit duplex project is in the works for Steiner Ranch tract MU-14—at RR 620 and Quinlan Park, Khoury said.

A CVS/pharmacy and an unknown commercial building are planned for a 7-acre tract at the northwest corner of RR 620 at the intersection of RR 2222, tract owner James George said.

Embrey constructed 344 apartment homes at Escape at Four Points in 2014. Standard Pacific is completing The Preserve at Four Points’ 146 single-family homes.

Four of nine homesites have been sold in The Preserve at Zimmerman Lane with a tract across the street zoned for an additional 25 homes, developer Jeff Arsenault said.

Phase 2 of Trails at 620 is slated to include new dining, entertainment and a 35,000-square-foot child care facility—Children’s Learning Adventure—in 2015, adding to a Holiday Inn Express hotel now under construction in Phase 1, developer Leslie Sloan said.

The Shops at Boulder, an 8,800-square-foot retail center, broke ground Jan. 5. Sherwin-Williams will be the anchor tenant when the project is complete June 1, Hunington Properties agent Evan Dyer said.

Three new residential projects on RR 620 are zoned to Leander ISD and Vandegrift High School.

Taylor Morrison’s Montebello, a 50-acre gated community slated to begin construction early this year, will offer single-family homes, Khoury said.

The project backs up to preserve and was annexed into the Austin city limits in October.

A 25-acre tract along RR 620 at Buckner Road is being developed into residential neighborhood and retail center, Stokes Ranch. The project will include 30 single-family homes and an 8,000- to 10,000-square-foot neighborhood retail center, HTH Capital partner Kevin Hunter said. Two neighborhood entrances will be on Buckner Road and RR 620, he said.

Land on RR 620 has been cleared for a 120-unit affordable housing complex, Windy Ridge Apartments, set to open this fall, said Roland Broussard of Realtex Development, the project’s developer with Generation Housing.

Bee Cave
During the past year the city of Bee Cave paved the way for additional development on RR 620.

In March, developer Adrian Overstreet led a groundbreaking ceremony for the city’s first major hotel—Sonesta Bee Cave in the Hill Country Galleria. The 195-room hotel is slated to open in June and feature a rooftop bar overlooking the Hill Country, Overstreet said.

“The rooftop bar transformed from being considered an accessory amenity at the beginning of the project, in my mind, into what amounts to the crowning jewel of the entire project,” said Steve Edmiston, associate principal at DCI Engineers.

Sister projects Terrace at Bee Cave and The Backyard at Bee Cave were approved Dec. 10 to add entertainment venues, movie and television production studios, office buildings, dining, parking garages, residences and hotels to the planned development districts located just off RR 620.

Hill Country Indoor, an 85,000-square-foot sports facility, will be going forward with construction in 2015.

Following years of controversy, City Council approved site plans Oct. 28 for the 16.8-acre Park at Bee Cave commercial project. It will offer office, retail, and commercial space beginning in early 2015, developer Bill Walters said.

Phase 1 of Gateway to Falconhead—an open-air commercial project including office, dining and retail space—was greenlighted Dec. 15 by Bee Cave City Council. The site development permit approved for Phase 1 includes 46,000 square feet of retail with the remaining 80,000 square feet of office space reserved for Phase 2, said John Elges, the project’s leasing agent. Groundbreaking on the development is expected in January, he said.

Three apartment developments added residential space to the city in 2014, beginning with the July opening of the Estates at Bee Cave, a 316-unit apartment complex. Construction on the 315-unit Cielo Apartment Living was finished in August, and the adjacent 228-unit Madrone Apartment Homes opened its first units in October. The project, located in the city’s extraterritorial jurisdiction, will be complete by March 30, leasing agent Ally Bravo said.


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Road to add new residents, businesses in 2015

With plans in the works for major projects in Bee Cave, Lakeway, Hudson Bend and Four Points, a wave of new construction along the RR 620 corridor during 2014 points to continued growth for the region in the coming year [Read More...]

Source: Austin Community Impact


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