Ranch29
Land | 42.68 acres
Marketing description
Jones Lang LaSalle (“JLL”) is pleased to offer the unique opportunity to acquire the Ranch29 Development Tract (the “Property” or “Site”). The entirety of the acreage consists of ±42.68 acres, including a fully entitled, "shovel-ready" ±35.84-acre development Site as well as a ±6.84-acre C-3 zoned commercial tract in Liberty Hill, Texas—one of the fastest-growing suburbs in the northern part of the Austin MSA. Positioned just off the Highway 183A corridor along Highway 29, the Site is in the immediate path of growth, offering a developer a de-risked asset that bypasses the region's lengthy and uncertain entitlement process. The entire site is ±42.68 acres and includes ±6.84 acres located within the Liberty Hill Jurisdiction. The multifamily tract is slated for a 318-unit, market-rate community with a mix of studio, one-, two- and three-bedroom units averaging 923 SF. A buyer can proceed with phase 1 of the multifamily tract with phase 1 directly to permitting with full construction plan sets in hand and wet utilities available, saving significant time and cost. Furthermore, the sellers have negotiated a traffic mitigation agreement that permanently exempts the land from traffic impact analyses and associated fees, providing hundreds of thousands of dollars in direct cost savings. This is a rare opportunity to capitalize on the area's powerful growth by developing a premier residential community in a submarket with limited new, high-end supply.
Investment highlights
ACQUIRE A "SHOVEL-READY" DE-RISKED ASSET
This offering allows a developer to acquire a fully entitled site with construction-ready documents in hand. A buyer can immediately proceed to permitting, eliminating the significant time (12-18+ months), cost, and uncertainty associated with the zoning and approval process in Central Texas, providing a clear path to groundbreaking.
SIGNIFICANT VALUE CREATED THROUGH ENTITLEMENTS
Significant value has already been created by successfully navigating the complex local entitlement and design process. A buyer acquires a de-risked development opportunity with a clear, approved plan for a high-end 318-unit community, capturing the upside of development without the upfront entitlement risk.
HIGH-GROWTH SUBMARKET
The Site is located in a high-growth submarket positioned to capture significant new demand. The population within a five-mile radius is projected to increase by 4.31% annually between 2024 and 2029—a rate more than seven times the projected national average. This rapid expansion is fueled by the growth of the North Austin tech corridor and the area's highly-rated school system, attracting a continuous influx of high-earning residents.
AFFLUENT DEMOGRAPHICS & OPPORTUNITY FOR NEW SUPPLY
The demographic profile surrounding the Site is exceptionally strong, with a 2024 average household income exceeding $168,000 within a five-mile radius. While the broader rental market has stabilized, the area has a limited supply of new, high-quality rental housing. This creates a clear opportunity to introduce a modern, luxury asset designed to meet the expectations of the area's high-earning resident base.
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