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June 22, 2017 Comments Off on AISD to Receive $12M from Land Sale Views: 627 Austin, Texas News

AISD to Receive $12M from Land Sale

The Austin Independent School District (AISD) board approved the sale of two plots of surplus land to RSI Communities. The $11.8 million is the first to go from 10 district properties that were brought to the market in October 2016.

The east-side land –  32 acres at Loyola Lane and Ed Bluestein Boulevard, and 12 acres south of East 51st Street near U.S. 183 – will hold single-family residential communities. RSI Communities agreed to reserve  25% of the units for affordable housing. The California homebuilder also said it would market the affordable units to ASID employees and families with children attending AISD, before opening them up to the public.

The 10-property portfolio was estimated to be worth $95 million. The properties include the district’s downtown headquarters on West Sixth Street, and the former Millett Opera House, on East Ninth Street.

Read More at Austin Business Journal


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