Windy Point Park Offering Memorandum

Transcription

1 Windy Point Park Offering Memorandum

2 Windy Point Park Windy Point Park 6506 Bob Wentz Park Rd Austin, TX 78732

3 INTRODUCTION Offering Iconic and unique development opportunity. Windy Point Park has the most shoreline on Lake Travis in the area, and is in the City of Austin ETJ acres. Currently seeking a destination or mixed use developer for: Resort hotel, Spa Dining, Entertainment, and/or Luxury Residential Ownership looking to contribute land debt free for a JV participation or long-term ground lease. About Established in 1980, Windy Point Park is 30 minutes from downtown Austin and is located off Comanche Trail Dr., two miles west of the Oasis Restaurant, on beautiful Lake Travis. Privately owned, it s the most serene place on the lake. Windy Point has been a destination for sun and water worshippers since Property Address Windy Point Park 6506 Bob Wentz Park Rd., Austin, TX American Statesman October 12, 2007 Lot Size (SF) 506, Lot Size (Acres) Year Built 1980

4 INVESTMENT HIGHLIGHTS Located Near the World Famous Oasis on Lake Travis Restaurant Investment Opportunity Off of Ranch Road 620 and Comanche Trail acres of development land on beautiful Lake Travis in Austin, TX. Luxury Condo or Housing Development Opportunity High Profile Location Lakeway Baylor Scott & White Hospital is just miles away Strong Growth in the Area close to Steiner Ranch, and River Place subdivisions The nearby Trails at 620 Retail Center continues to develop strong retail sites boasting shopping, restaurants, and a movie theater Windy Point Park offers investors an iconic and unique opportunity with Between Ridgetop Terrace, Comanche Trail and Lake Travis, Travis County, Texas, in the City of Austin ETJ. Solid Area Demographics The median income for a household nearby is $86,862, and the median income for a family is $94,266, compared to Austin as a whole median income for a family is $49,987.

5 PROPERTY DESCRIPTION Location Windy Point Park is a peninsula with prime waterfront access on Lake Travis in the lakeside neighborhood of Comanche Point Subdivision. Property Size Acres Legal Description Tract 1: Lots 23 and 23A of Comanche Point, a subdivision in Travis County, Texas, according to the map or plat thereof, recorded in Volume 4, Page 310 of the Plat Records of Travis County. Tract 2: Lots 24 and 24A of Comanche Point, a subdivision in Travis County, Texas, according to the map or plat thereof, recorded in Volume 4, Page 310 of the Plat Records of Travis County, Texas. Tract 3: Being all that certain acre tract of land, more or less, out of that portion shown on the plat of Comanche Point as H.O. Fisher reserve No. 2 - said Comanche Point, being a subdivision in Travis County, Texas, according to the map or plat thereof, recorded in Volume 4, Page 310 of the Plat Records of Travis County, Texas. Tract 4: Block C of Comanche Village, a subdivision in Travis County, Texas, according to the map or plat thereof, recorded in Volume 5, Page 1 of the Plat Records of Travis County, Texas. The legal descriptions were obtained from public records and a Stewart Title Company commitment for title insurance. We assume those sources to be correct.

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10 MARKET OVERVIEW Neighborhood Analysis The subject property is located in northwest Travis County near Lake Travis. Historical land uses in the area have primarily been residential and recreational. However, the rate of commercial and retail development has been very high along the major roadways, primarily RM 620, US 183, Lakeline Boulevard, and Cypress Creek Road. Linkage Major roadways that provide access include those noted above and Bullick Hollow Road, FM 2769 and Lime Creek Road. Traffic Counts along all of these roads has risen dramatically over the last five to ten years. Support Facilities The neighborhood is located within the Leander Independent School District, which according to U.S News and World Report is ranked as one of the top 100 ISDs in the nation. Police, fire and emergency medical services are mainly provided by Travis County. Limited water and wastewater services are provided by the City of Austin, City of Cedar Park, and a number of private utility suppliers or utility districts. Electric services are provided by the Austin Energy and Pedernales Electric. Land line telephone infrastructure is provided mainly by AT&T. Garbage pickup is by the city and private firms. Summary Windy Point is located in the far-northwest Austin market with good proximity to recreational and support facilities. Lake Travis is the primary recreational feature that creates a large demand for numerous land uses, primarily residential. In addition, a substantial increase in demand for all commercial and retail uses has occurred over the last five to fifteen years. While demand for those land uses are expected to remain high over the long term, supply will be held in check by the development constraints associated primarily with endangered species habitat.

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12 AREA MAP

13 CONTACT is a real estate broker licensed with The Texas Real Estate Commission. Information concerning the property described herein has been obtained from sources other than McClung Properties Inc. and make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

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