185-Acre Land Purchase Moves Central Texas Mixed-Use Project Forward
- Feb 22, 2008
Plans for a new addition to the blossoming city of Georgetown, Texas have gotten a boost with Bourn Partners’ closing of the purchase of 185 acres. Bourn will develop the property, sited about 25 miles outside of Austin, as a mixed-use destination encompassing about 1 million square feet. Located in Williamson County near the intersection of Westinghouse Blvd and Interstate Highway 35, the project will sit in an area that is rife with new development, even beyond the Longhorn Junction enclave. While the specifics of Bourn’s endeavor have not been set in stone, the company will construct a unique combination of offerings that may include a corporate office campus, multi-family residences, assisted living facilities, retail segments and medical office and research space. Bourn continues to iron out the particulars of what will ultimately sprout up on Westinghouse Blvd., and expects to reveal additional details in the near future. Acquisition of the Westinghouse site comes just two months after Bourn completed the purchase of a nearby 70-acre parcel for the expansion of its sprawling mixed-use Longhorn Junction development. Located off IH-35 at the Inner Loop, the land is slated to become home to a retail project that will offer 800,000 to 1 million square feet of national and local retail stores, restaurants, entertainment venues and family attractions. The project will be the second development at Longhorn Junction; Citicorp wrapped up construction of a 250,000-square-foot data center with a price tag of $450 million late last year. Headquartered in Tucson, Bourn engages in real estate activities in Arizona, California, Colorado, Nebraska and Texas. Currently, the company manages and leases over 2.4 million square feet of commercial space, and has a portfolio of in-progress developments valued at more than $1 billion.