Wood Partners has acquired 26 acres of land in the mixed-use Pearl River development located in Bastrop County, Texas. The company plans to develop a 650-unit rental community at Hwy 71 and FM 969, approximately 30 minutes southeast of Austin.
Pearl River is acting as master developer for the overall project while selling off parcels for multifamily and hotel developments. The site is within a 75-acre mixed-use development that will bring retail, entertainment, dining, medical and residential uses to the rapidly growing Bastrop market with completion expected within 24 to 36 months. John Baird, Michael Kennedy and Sullivan Johnston from Avison Young represented Pearl River Cos. during the disposition of this land parcel sale transaction.
Wood Partners intends on breaking ground over the next few months on their multifamily site with first units anticipated to be delivered over 12 – 18 month period with full project completion estimated at 24 months from now onwards
