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October 16, 2021
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Developer Picks Up 32-Acre Parcel in the Austin, TX Area

9/23/21

Juliet Five LLC purchased a 32-acre land parcel located at 1635 E Hwy 290 in Dripping Springs, TX, 20 minutes west of downtown Austin. The firm is planning to develop a mixed-use project incorporating retail, commercial and multifamily uses. Details of the development are still in planning stages.

While a part of the Austin area, Dripping Springs brings its own vibe and country feel, and has attracted its own unique companies including Deep Eddie Vodka and HHS LLC. Nearby mixed-use developments along the E Hwy 290 corridor include Belterra and Canyon Ranch, as well as a massive influx of homebuilders like Toll Brothers, Meritage and Pulte, setting the stage for the future development of this 32-acre parcel.

John T. Baird, Michael Kennedy and Sullivan Johnson with Avison Young represented the Dripping Springs-based seller, RRWS Inc. The Avison Young team worked closely with the City of Dripping Springs and the site engineering team to create a clear understanding of critical utility and infrastructure delivery timelines. The team also worked to create multiple development scenarios to illustrate the potential of the property, and executed a multi-channel offering process to attract qualified prospects from across the country.




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