October 7, 2020
Newmark Knight Frank arranged the recent land sale of six acres, part of 125 acres sold in the past 12 months at Plum Creek, a 2,200-acre master-planned community in Kyle. The land was purchased by Austin-based Sparrow Partners, which is developing the site.
NKF’s Joshua LaFico, Jesse Weber and Andrew Childers represented the landowner, the Negley Family. NKF worked closely with the development manager MG Realty Advisors, an affiliate of Momark Development, led by long-time Austin area developer Terry Mitchell and project principal Megan Shannon.
“We continue to see steady growth momentum along the I-35 corridor,” stated LaFico. “Through the pandemic, single-family home sales in Austin are moving at a record pace, causing inventory to drop. Suburbs such as Kyle are benefitting from rising housing costs in the core of Austin. Communities that create walkable, mixed-use environments with an emphasis on green space will continue to flourish.”
For comments, questions or concerns, please contact Paul Bubny