AUSTIN – The Austin Independent School District (AISD) board approved the sale of two plots of surplus land to RSI Communities for $11.8 million.
RSI Communities plans to develop the two properties—a 32-acre plot at the intersection of Loyola Ln. and Ed Bluestein Blvd., and a 12-acre tract of land south of East 51st St.— into single-family residences.
The California-based homebuilder has agreed to reserve 25 percent of the units for affordable housing and to market the units to AISD employees and families with children attending AISD before opening them up to the general public.
The Loyola Ln. property will be sold for $7.2 million, while the "service center" land south of 51st will go for $4.6 million.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.