2,000 ACRE TESLA CAMPUS AUSTIN BERGSTROM INTERNATIONAL AIRPORT AUSTIN CBD UNIVERSITY OF TEXAS
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KINNEY FALLS PARKWAY LAND SITE
OPPORTUNITY ZONE LOCATION
MCKINNEY FALLS PARKWAY NORTH OF WILLIAM CANNON DRIVE
LOCATED ON A HIGH VISIBILITY SOUTHEAST AUSTIN SITE, THE 60.5-ACRE DEVELOPMENT OPPORTUNITY IS OFFERED ON A FEE SIMPLE BASIS.
The property is located within an Opportunity Zone, providing the developer with the potential for tax benefits. The site consists of a 60.5-acre parcel located on the east side of McKinney Falls Parkway between William Cannon Drive and Dee Gabriel Collins Road. The asset is located within the City of Austin ETJ,
is not currently zoned, and features an attractive tax rate of only 2.0475%.
AUSTIN CBD
10 MILES ORACLE CAMPUS
9 MILES E WILLIAM CAN NON DR MCKINNE Y FALLS P KWY MCKINNEY FALLS STATE PARK 641 ACRES CLAY / KIZER GOLF COURSE ONION CREEK SOCCER COMPLEX ONION CREEK METROPOLITAN PARK FUTURE CVS HEB SITE 60.5 ACRES COTTON BLU FF S PRIN GS EASTON PARK HOMES UP TO $650,000
INVESTMENT SUMMARY
NEWTON COLLINS ELEMENTARY2.2 MILES FROM SITE
Located in southeast Austin just ten miles from the Austin CBD, the McKinney Falls Site provides residents with convenient access to major employers, growing retail centers, and abundant parks. William Cannon Drive provides direct access to both IH-35 and US-183. The $1 Billion Tesla Giga Factory, projected to total over 10,000 employees and currently under construction with an opening projected for late 2021, is only 15 minutes from the property. Additionally, the corporate headquarters of Oracle, just off Riverside Drive, is a short drive from the site. Residents are just ten minutes from both Austin Bergstrom International Airport and the Circuit of the Americas (COTA). COTA hosts a diverse mix of motorsports including high profile F1 races and is home to Austin’s premier outdoor concert venue.
Residents can quickly reach south Austin’s leading retail center, Southpark Meadows, which totals one million square feet and features over 100 retailers including a wide variety of restaurants, apparel stores, and everyday services. HEB Grocery owns a development parcel at the intersection of William Cannon Drive and McKinney Falls Parkway.
Nearby parks include McKinney Falls State Park, Onion Creek Metropolitan Park, Jimmy Clay / Roy Kizer Golf Courses, and the Onion Creek Soccer Complex.
Location East Side of McKinney Falls Parkway between William Cannon and Dee Gabriel Collins Austin, 78744
Projected Site Use Single Family or Multifamily Residential
Opportunity Zone Located in an Opportunity Zone County Travis
Total Site Area 60.471 Acres City City of Austin ETJ
Total Site Square Footage 2,634,117 SF MUD No MUD
INVESTMENT SUMMARY
Mc
KINNEY FALLS LAND SITE 60.47 ACRES MCKINNEY FALLS PARKW AY MCKINNEY FALLS STATE PARK 641 ACRESZoning No Zoning
Floodplain Portion of the Site is in 100-year Floodplain Heritage Trees No Heritage Tree Restriction in ETJ
Impervious Cover 60% for Multifamily
HOA/POA No HOA
TIA Likely Required
Affordable Housing No Affordable Requirement Tax Parcel ID's 297347 & 297360
2020 Tax Rate 2.047465%
Terms Available on an All Cash Basis
Electric Austin Energy
Water/Wastewater City of Austin - Wastewater Extension Needed
Gas Texas Gas
Cable/Internet Spectrum & Google Fiber
UTILITIES & SERVICES
School District Del Valle ISD
Elementary Newton Collins Elementary
Middle Ojeda Middle School
High School Del Valle High School
The $1 Billion Tesla Gigafactory, projected to total over 10,000 employees by 2022 and currently under construction with an opening projected for late 2021, is only 12 miles from the property. The automaker plans to produce Model 3, Model Y, Cybertruck, Tesla Semi, and battery cells at Gigafactory Texas. Construction started in July 2020, and the automaker plans to begin production in Fall 2021. Tremendous progress has been made on the site in less than a year evidenced by the photos below from May 2021.
Additionally, Tesla owns 752 acres on the west side of SH-130 that has been rumored as an Austin location for SpaceX, the Tesla space exploration company. In recent communications with Travis County, there have been discussions regarding expansion of Tesla’s Austin land holdings up to 3,500 acres.
TESLA GIGAFACTORY
CBRE Employment Growth Forecasts
2.9%
2021
3.7%
2022
According to a recent National CBRE Research Brief, Austin is projected to be the first major U.S. metro to reach its pre-COVID employment level, and the only major U.S. metro to do so in 2021. In Q4 2021, Austin's employment should exceed Q1 2020, the pre-COVID employment benchmark. Austin is also projected to be the U.S. leader for employment growth from Q1 2020 through 2030. CBRE’s forecasts for Austin are attributable to the growth and strength of the local tech industry, deep talent pool, the University of Texas, a pro-business environment, moderate cost of
living, and a certain “coolness” factor.
Austin MSA
2022 CBRE Rent Growth Forecasts
9.3%
Austin MSA
9.7%
Southeast Austin
CBRE Econometric Advisors, a group of economists and researchers within CBRE, recently came out with its multifamily rent growth projections by metro for 2021 and 2022. Rents in Austin are projected to grow 9.3% in 2022. Employment is projected to grow 2.9% in 2021 and 3.7% in 2022 respectively. All three of these metrics are above the average when compared with all other major U.S. metros. Rent growth in the Southeast Austin submarket is projected
even higher than the Austin MSA at 9.7% in 2022.
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Total Sales Sales Price
AUSTIN MSA HOME SALES
–McKinney Falls Land Site8 –
APRIL 2021 AUSTIN SINGLE FAMILY STATISTICS
$573,133
#1
Market for Real Estate Capital Deployment in 2021
CBRE Research - April 2021
Population Growth Percentage Among Major US Markets
CBRE Research - April 2020
Hottest Job Markets
Wall Street Journal - February 2020 & 2019
Best Place to Live in the U.S. for the 3rd Straight Year
U.S. News & World Report - April 2019
#2
Top 10 Real Estate Markets for 2021
PwC/Urban Land Institute - October 2020
Cities That Will Be Leading Technology Innovation Hubs Over Next 4 Years
KPMG - January 2020
Fastest Growing Population Among U.S. Cities
CityLab - August 2019
America’s Best Cities for Jobs
Forbes - May 2018
#3
Where America’s Jobs are Created & Sustained
Milken Institute - Feburary 2021 & 2020
Top Emerging Life Science Cluster in the U.S.
CBRE Research - October 2020
High Tech Job Growth
CBRE Research -March 2020
Economic Growth Potential
Business Facilities - July 2018
© 2021 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.
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COLIN CANNATA
Senior Vice President +1 512 499 4979
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