CBRE Marketing 92-acre Commercial Parcel at Belterra Community
Nov 12, 2013
CBRE is marketing nearly 92 acres of land for commercial development near the master-planned community of Belterra in the Austin suburb of Dripping Springs. Josh Cameron, Carter Breed and Eric DeJernett, are representing Crescent Communities, a diversified real estate investment, development and operations company dedicated to building sustainable multifamily, residential and commercial communities, in the marketing and sale of multiple parcels of land (known as Belterra Commercial)
Belterra Commercial is located on the south side of U.S. Highway 290 between Nutty Brown Road and Sawyer Ranch Road within the City of Dripping Springs extraterritorial jurisdiction (ETJ). The land has about three-quarters of a mile of U.S. Highway 290 frontage. Crescent Communities recently announced plans to complete the final phase of Belterra, including the new retail component for the existing master-planned community. The commercial land occupies the highly visible northeast portion and front door of the overall Belterra community, which has about 1,300 homes currently and expects to have close to 2,000 within the next five to six years
"Belterra Commercial represents the single greatest opportunity for large scale, mixed-use, commercial development within the severely underserved Southwest Austin/Dripping Springs submarket,” said Cameron. “With full entitlements in place, a suitable land area for sizable development and all utilities secured and onsite, Belterra Commercial stands alone as the destination for much needed and anticipated retail/commercial/mixed-use development for the next several years.