|January 31, 2017||Comments Closed|
Harrell & Associates – KW Commercial, Central Texas would like to announce our new listing for sale of development land near Downtown Waco, Texas!
Waco has become a unique tourist destination as well as a unique and appealing place to live and do business because of its rich diversity, abundant natural resources, convenient location and numerous amenities. Waco has big city advantages without the big city hassles.
Located just across the river from the heart of Downtown Waco, this property is prime development land for a booming city! The 14.027 Acres sits in the Brazos River Corridor Development Sector just off of South Martin Luther King Jr. Boulevard in between Interstate Highway 35 and Highway 84, more commonly known as Waco Drive. The Brazos River Corridor, a geographic area designated for economic development, carves a path through the heart of Waco for more than 10 miles. It stretches from the wooded bluffs of McLennan Community College’s campus on the northwest end to the sloping banks of Baylor University’s campus on the southwest end and beyond. The dramatic views and geographic features provide unique opportunities for developers. Targeted for development by the city, this strategic location offers a variety of economic incentives to businesses locating in the corridor.
The acreage is prime for development as all of the land has access to water and sewer via the City of Waco as well as electricity.
A majority of the land sits inside of the Tax Increment Financing (TIF) Zone. The City of Waco describes the TIF fund as “to facilitate development or redevelopment of an economically disadvantaged area.”
In late 2016, the city council voted to award a $4.4 million contract to build a river walk which will connect Franklin Avenue to McLane Stadium making the downtown area more accessible to foot traffic along the river.
“The river is the central focal points of downtown redevelopment, so it makes sense that those TIF dollars would be used for this project and the city’s task is to figure out how to balance that with the other needs,” Megan Henderson, the Director of City Center Waco said.
Contact Harrell & Associates – KW Commercial, Central Texas today to capitalize on this one in a lifetime development opportunity in the Heart of Waco, Texas!
Request Additional Information from Listing Broker:
Listing Type: Sale
Acreage: 14.027 Acres
This set of properties is located just off of South Martin Luther King Jr. Boulevard on the north side of Downtown Waco in between Interstate Highway 35 and Highway 84
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.