AISD Board Approves $11.8 Million Property Sale
Buyer to provide affordable housing to AISD employees
The Austin ISD Board of Trustees approved the execution of two contracts for a combined $11.8 million sale of two properties that will be developed into single-family residences at its June 19 meeting.
The properties — Loyola Lane Land and Service Center Land — were approved to be sold for $7.2 million and $4.6 million, respectively. The buyer, RSI Communities — Texas LLC, has plans to develop single-family residences, including 25 percent affordable housing available first to AISD employees.
The Loyola Lane Land comprises three adjacent tracts of land totaling nearly 32 acres at the intersection of Loyola Lane and Ed Bluestein Boulevard. The Service Center Land comprises approximately 12 acres of land located on East 51st Street, adjacent to AISD’s Lance Giles Service Center.
These are two properties the district has identified for potential sale or lease.
Last year, AISD sought bids and development options for 10 of its properties amid the creation of its long-term facility master plan. Since December, the district has reviewed the bids and begun negotiations. Properties under review are:
Carruth Administration Center at 1111 W. Sixth St.
Baker Center at 3908 Avenue B
Millett Opera House (aka Austin Club) at 110 E. Ninth St.
1.234 acres of land at the intersection of Doris and Hathaway Drive
7.96 acres of land at the southeast corner of Tannehill Lane and Jackie Robinson Street
12.496 acres of land at 4806 Trail West Drive