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914 Shady Ln - Shady Mixed-Use Commercial

2.41 Acres of Commercial Land in Austin, TX 78702

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Investment Highlights

Office, Retail, Mixed Use Condominium, Restaurant, Medical, Bed & Breakfast
Removal of FEMA Floodplain to Boogy Creek Channel Confirmed by City
Tree Survey Available

Service Extension Request Completed
Affordability Unlocked and by Rights allows up to 90 feet on Tract 2B and 50% density bonus on Tract 2A
Qualified Opportunity Zone

Executive Summary

Site was previously one of the first Urban Farms in East Austin and the birthplace of Farmhouse Delivery. This well-loved community treasure was known for its many events including Shakespeare on the Farm, gumbo cook-offs, and many weddings. The bucolic setting, trees, and fantastic sunsets make this an urban oasis. The site was rezoned to Commercial Mixed-Use LR-MU + Single Family-6 (allowing townhomes & duplexes). The site provides a developer the opportunity to integrate nature and vertical development in a unique and vibrant pocket of East Austin.
Potential development yield is enhanced beyond the preliminary conceptual site plan due to the removal of parking requirements, and new City of Austin ordinances for affordability that allow for 90 feet of height along the commercially zoned frontage of Shady Lane beyond the current 40-foot limitation. Subdivision would be required if the Buyer elects not to purchase Tract 1 accessed from Milburn and Mansell. NRP is planning 600+ workforce units next door to the property with a school. Ample opportunity for affordability bonuses and commercial service/retail potential for area developments. Tremendous flexibility and opportunity in 78702 for the creative developer, while taking advantage of the Qualified Opportunity Zone program. Potential uses under LR zoning include: Art Gallery, Retail, Restaurant, Office, Medical, and Mixed-Use Residential Condominiums.

Tract 2B Package

Tract 2A Package

Activity_Map_Package

Property Facts

Sale Type	Investment	Property Subtype	Commercial
Sale Conditions	Redevelopment Project	Proposed Use	Commercial
No. Lots	1	Total Lot Size	2.41 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Sale Type	Investment
Sale Conditions	Redevelopment Project
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial
Total Lot Size	2.41 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot 2A & 2B

Lot Size	2.41 AC

Lot Size	2.41 AC

Flat lot, yet to be subdivided, gross site area 105,092 SF or 2.41 acres. The creek area owned by the Seller does not count as impervious cover. Usable/buildable area approximately 65,000 SF across Tract 2A & 2B.

Description

914 Shady Lane Tract 2B is zoned LR-MU, with a height limitation under current neighborhood concession of 40 feet. New City ordinances allows up to 90 feet if affordability is included in the development, dramatically increasing overall yield. The property is located in a Qualified Opportunity Zone. Flood Plain modeling updated with the City of Austin and upon final site plan approval the flood plain will be contained within the engineered waterway of Boggy Creek (drainage area). NRP Group is planning 600+ workforce housing and a school on the Coy Ferrales facility next door. Opportunities to provide commercial services for the new planned development. Condo potential, office, restaurant and/or retail use is permitted.

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Bike Score ®

Very Bikeable (77)

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zoning

Zoning Code	LR-MU, SF-6 (LR-MU provides flexibilty for office, condos, retail, restuarant, art gallery, food trucks. SF-6 allows for townhomes, condos and duplex development)
LR-MU, SF-6 (LR-MU provides flexibilty for office, condos, retail, restuarant, art gallery, food trucks. SF-6 allows for townhomes, condos and duplex development)