OFFERING MEMORANDUM. Owen NS 2, L.P.

Transcription

1 NEW SWEDEN MUD #2 Pflugerville, Texas OFFERING MEMORANDUM Owen NS 2, L.P. CONTACT Joe Owen NO WARRANTY OR REPRESENTATION, EXPRESSED OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICES, RENTAL OR OTHER CONDITIONS.

2 Land Investment Opportunity Offering Summary 308 Acres in the ETJ of Pflugerville 1,161 Preliminarily Platted Lots Fully Entitled Municipal Utility District Preliminary Estimates on MUD reimbursable of almost $18 million Fully entitled in Travis Co. & Pflugerville Water & Sewer available Tremendous Road Frontage on FM 973 and the extension of Kelly Lane; Two major roads in this growth area Gently rolling terrain In a growing sector of Austin MSA In Pflugerville School District 130 Corridor is dynamic growth corridor 4 Miles to SH 130, 5 miles to US 290, 10 miles to I Miles to Downtown Austin Value in 24 acres of commercial and a school site. 3 miles from the 728 acre RRE Solar project which will eventually have enough power for 40,000 homes

3 PROPERTY PRICING Purchase Price/Acre $15,000 per acre - +/- 4,625,000 OFFERING ATTRIBUTES 1,161 Paper Lots 25 acres of commercial Approximately $18 Million in future MUD receivables ADDITONAL OPPORTUNITY Being at the intersection of FM Highway 973 and Kelly Lane could/would allow for a considerable amount of the property to be rezoned for higher density residential and commercial property. At that time the value of the property would be substantially more. The City of Pflugerville would love to see more commercial property on the property and the proximity to the new Austin Solar Project ( might generate commercial activity in the area. This has been described as having the potential to be the worlds largest solar project and broke ground in December MUD REIMBURSEMENTS Value of MUD Reimbursables if developed today at a tax rate of $.90/$100 value is approximately $18 million (see enclosed MUD receivable schedule).

4 PROPERTY DESCRIPTION DESCRIPTION A 308 acre parcel of gentle rolling land located on FM State Highway 973 in the Extra Territorial Jurisdiction of Pflugerville, Texas ENTITLEMENTS The property is currently fully entitled with a Preliminary Plat approved through Travis County and an executed development agreement with the City of Pflugerville. The property is approved for 1,161 single family lots, two commercial sites and a school site. MUD The property has a MUD approved (New Sweden Municipal Utility District No. 2). The MUD allows for 100% of off-site costs and 70% of on-site costs to be recouped as the tax base allows. The total estimated developer reimbursements are +/- $18 million. WATER Water to be provided by Aqua Water Supply Company or an agreement for wholesale water could come from Blue Water who has a large (32+ inches) line in the adjacent property WASTEWATER Wastewater will be provided by the City of Pflugerville FRONTAGE The property has approximately 2,900 feet of frontage on FM Highway 973 The property will also have 5,850 fee of frontage on Kelly Lane CURRENT DEVELOPMENT JURISDICTION Pflugerville ETJ ACCESS TO PROPERTY The property is located five miles north of Highway 290 Highway 130 is about 2 miles from the intersection of FM State 973 and Highway 290 Interstate 35 is about 8 miles from the intersection of FM State 973 and 290

5 PROPERTY DESCRIPTION READY TO BE DEVELOPED DESCRIPTION PROPERTY DESCRIPTION The property is ready to be developed: With a preliminary plat, availability of water and A 426 acre sewer, parcel and of an gentle approved rolling MUD land this located property on is FM ready State to be Highway developed 973 which in the has Extraterritorial significant Jurisdiction value. of Pflugerville, Texas ENTITLEMENTS GREAT LOCATION MUD WATER ROBUST SUBMARKET The property is currently fully entitled with a Preliminary Plat approved through Travis County and preliminarily Good Location approved for by Master Pflugerville. Planned The Development: property is approved The subject for property 1675 single consists family of 426 acres, entitled for 1676 lots and is located within 25 minutes to Downtown Austin, and 15 lots, two commercial sites and a school site minutes to Austin Int l Airport (all without ever getting on I-35), and within minutes to the fastest growing employment corridor in the Austin area. The property has a MUD approved (New Sweden Municipal Utility District No. 2). The MUD allows for 100% of off-site costs and 70% of on-site costs to be recouped as the tax based allows. The Located total in estimated Extremely developer Robust reimbursements North Austin Submarket: are +/- $24 The million. property is located in northeast Travis County which is experiencing tremendous growth. There is an agreement with Aqua Water Supply Company to provide water to the site. JOBS, JOBS, JOBS Jobs are in the Immediate Area: Within a 15 mile radius to the subject there are over WASTEWATER Wastewater 100,000 will be jobs provided in the area. by 973 Major Wastewater employers Company on the east side include Dell, Samsung, IBM, Applied Materials, Cypress Semi-Conductors, and others. The mobility of east Austin and the FRONTAGE The property availability has approximately of Highway 1302,900 will create feet of more frontage business on FM in this Highway area for 973 coming years. The property will also have 5,850 feet of frontage in Kelly Lane The property also currently has 2,038 feet of frontage on Cameron Road/Hamann Lane CURRENT IMPROVED DEVELOPMENT ACCESS DUE JURISDICTION TO HWY 130 ACCESS TO PROPERTY CURRENT DEVELOPMENT JURISDICTION Travis County Highway with 130 a development is a Reality and agreement Open for with Business: Pflugerville The property benefits from its proximity to Highway 290 (5 miles south) and the new Highway 130 (another 3 miles from FM 973 and Highway 290). Highway 130 opens up the east side of Austin, Pflugerville, Round Rock and The property is located three miles north of Highway 290 approximately Georgetown to new residential and commercial activity. Interstate 35 is about 10 miles from the intersection of FM State 973 and 290 Highway 130 is about 2 miles from the intersection of FM State 973 and Highway 290 Property Located in Pflugerville School District: The property is located in one of the best school districts on the eastern side of Austin. PROXIMITY TO RRE SOLAR PLANT RRE Energy is developing a 60 MW solar plant about 2.5 miles to the northeast of this location. In Concept this plant will eventually be large enough to power 40,000 homes according to their website

6 The property available is the west side of FM 973

7 The property available is the west side of FM 973

8 MUD REIMBURSABLE SCHEDULE Per the Cost Sharing Agreement the 308 acres receives approx. 70% of this

9 Exhibits Property Maps 1. Location Map 2. Site Plan 3. Jurisdiction Map 4. ISD Map 5. Employers & Retailers 6. Combination Map 7. Campo 2030 Road Map

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12 Exhibits Bury & Partners Property Maps

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