Bull Creek tract top bidder is Austin homebuilder
Dec 4, 2014
Austin Business Journal
Milestone Community Builders is the top bidder for the prized Central Austin Bull Creek Tract that recently was the subject of much attention from Austin City Council, reports the Austin American-Statesman
Austin-based Milestone Community Builders — one of the fastest-growing companies here— offered $46.7 million for the 75-acre property owned by the Texas Department of Transportation. It's just east of MoPac Expressway in a largely residential area between 45th and 35th streets along Bull Creek Road and Shoal Creek
"Today marks a big win for Texas taxpayers," said Roland Tilden, director of TxDOT's real estate development office, according to the Statesman. "This piece of property will now be back on the tax rolls."
In October, the City Council shelved an attempt to purchase the tract for about $29 million after it became apparent that the city couldn't afford it without taking on more bonded debt