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July 25, 2024
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Wood Partners to Develop 650-Unit Multifamily Project in Bastrop, TX


Atlanta-based Wood Partners picked up 26 acres of land in Texas for development of a 650-unit multifamily project. The site, located at Hwy 71 and FM 969 in Bastrop, is within a 75-acre mixed-use development by Pearl River Companies.

The mixed-use campus will bring a vibrant mix of retail, entertainment, dining, medical and residential uses to the fast-growing Bastrop market. Completion is expected within 24 to 36 months.

Wood Partners plans to break ground in the near future on the multifamily site with the first units anticipated to deliver over the next 12 to 18 months. The project should be finished in approximately 24 months.

John T. Baird, Michael B. Kennedy and Sullivan Johnston of Avison Young’s Land Development team represented the seller, Pearl River Companies, a privately held commercial real estate investment and development firm with a focused strategy for opportunity-driven value creation. The company acquired the 75 acres with the intent to act as master developer of the overall project while selling off the multifamily and hotel parcels to best-in-class developers who bought into the vision of delivering a regional destination for the growing Bastrop community.

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