Austin, TX 78744
$3,250,000
Redfin CorporationThis 11.63-acre suburban infill development opportunity is strategically positioned along E. William Cannon Drive, approximately 2,000 feet east of Interstate 35 in the high-growth South Austin submarket. The offering consists of two contiguous parcels: 2008 E. William Cannon Drive (6.79 gross acres) and 1814 Nelms Drive (4.88 gross acres), providing a rare dual-access configuration that combines commercial arterial visibility with quiet residential ingress and egress via the Nelms Drive cul-de-sac. Comprehensive civil engineering feasibility and site planning completed by MIGL Engineering demonstrate an optimized 8.86-acre net developable footprint designed specifically for Class A multifamily density. Utilizing an MF-4 rezoning framework, draft site concepts establish a high-yield potential ranging from 171 to 215 residential units across 300,000 to 381,000 square feet of gross floor area. The engineered layouts accommodate building heights up to 58 feet while integrating flexible double-podium, tuck-under, and surface parking structures. The site is substantially de-risked by existing utility connectivity, featuring a 10-inch ductile iron wastewater main on-site and 12-inch water mains along both street frontages. Furthermore, the tract leverages an existing regional water quality and detention facility serving the drainage basin, saving millions in upfront site work. Capitalizing on the City of Austin's elimination of municipal minimum parking requirements, a buyer can maximize buildable density and capital efficiency in one of Austin's most accessible multifamily corridors.
Questions on 2008 E William Cannon Dr, or want to see it in person?
Kathleen Magat is a trusted real estate advisor specializing in Reunion Ranch and the surrounding Dripping Springs and Hill Country neighborhoods near Austin. She is highly regarded for her ability to navigate complex transactions with clarity, neutrality, and strategic precision.
Contact
(650) 291-7516 [email protected]1717 W. 6th Street Suite 190, Austin, TX 78703
Brokerage
Douglas Elliman Real Estate
(281) 652-5588 · Designated Broker of Firm: Alice Belinda Fernandez
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