763 Upper Elgin River Road, Elgin, TX 78621 - Bastrop County

Prime Development Opportunity in a Growing Region

27-Lot Residential Subdivision on 18.998 Acres

- Located strategically between Elgin and Bastrop, Texas, this 18.998-acre tract presents an outstanding investment opportunity in one of the fastest-growing areas just outside Austin. With Bastrop's booming development scene and Elgin's expanding infrastructure, this property is uniquely positioned to benefit from the rising demand for residential housing. As more people seek homes in suburban and rural areas while still maintaining proximity to Austins employment centers, this property stands as an ideal candidate for a well-planned residential subdivision.

Strategic Location for Development

- The property is situated within the Extra-Territorial Jurisdiction (ETJ) of Elgin, meaning it falls outside city limits but remains subject to specific city regulations. This offers a unique advantageproviding the flexibility of rural development while still benefiting from Elgin's planned growth. With direct road access and an optimal lot size configuration, this development is well-suited to attract homebuyers looking for more space while staying connected to city conveniences.

- Elgin and Bastrop are experiencing significant expansion due to their proximity to Austin. Over the past decade, these areas have seen increased residential and commercial developments, supported by improved transportation infrastructure and economic growth. With new job opportunities, an influx of residents, and the expansion of businesses into this region, the demand for well-planned housing communities is at an all-time high.

Planned 27-Lot Residential Subdivision

- This tract has been carefully planned for a 27-lot residential subdivision featuring half-acre lots. The lot sizes offer an excellent balance of space and affordability, making them attractive for families, retirees, and professionals looking to build custom homes.

- Each lot will provide ample space for private yards, gardens, and outdoor amenities, catering to homebuyers who desire more room than what is typically available in urban developments. The half-acre configuration also provides potential for a mix of single-family homes with varying architectural styles, increasing the desirability and value of the community.

Development-Ready Infrastructure & Studies Completed

A major advantage of this property is that several key development steps have already been completed, significantly reducing the time and effort required for investors or developers to move forward. The groundwork has been meticulously prepared to streamline the approval and construction process.

1. Water Feasibility Study Completed

A recent Water Feasibility Study with Aqua Water has already been conducted, saving approximately 10 months of feasibility time. The study highlights the necessary infrastructure updates, specifically the replacement of approximately 2,230 linear feet of 2.5-inch pipe with a 6-inch pipe along Upper Elgin River Road. With this critical step already addressed, developers can proceed with confidence knowing that a clear path for water supply improvements has been established.

2. Utilities Already in Place

The property benefits from existing utility connections, reducing upfront development costs:

Water Supply: An existing Aqua water line is already on the property, which provides immediate access to water.

Electricity: A three-phase electric power line is available, ensuring that the subdivision will have adequate electrical infrastructure for residential development.

Septic System: The property currently has a septic system in place, which could potentially be expanded or restructured depending on development plans.

3. Construction Drawings Completed

Construction drawings have already been prepared, making this property ready for civil engineering work and the platting process with the county. Having these documents in place helps accelerate the approval process and minimizes costly delays often associated with new developments.

Key Environmental and Zoning Benefits

One of the biggest concerns for developers is ensuring that the land is free from environmental restrictions that could hinder construction. This property has several advantages in this regard:

No FEMA Floodplain Issues: The entire 18.998 acres are free from FEMA-designated floodplains, ensuring that developers do not have to worry about additional permitting, drainage issues, or flood insurance requirements.

No Houston Toad Conservation Area Restrictions: Many parts of Bastrop County have environmental restrictions related to the endangered Houston Toad, which can significantly impact development potential. Fortunately, this property is not within a Houston Toad Conservation Area, eliminating concerns about additional regulations or conservation requirements.

Level Topography: The land features level terrain, making site preparation and construction significantly easier. The absence of steep slopes, rocky outcrops, or uneven grading reduces development costs and allows for more efficient infrastructure installation.

Road Frontage for Easy Access: With established road frontage, the property offers convenient ingress and egress for future residents, construction crews, and service providers.

Potential Development Opportunities

While this property is primed for a residential subdivision, there are additional opportunities for creative development:

Residential Housing Development: The most straightforward and profitable use of the land is to proceed with the planned 27-lot subdivision. Given the rapid growth of the Elgin-Bastrop corridor, homes in this area are expected to sell quickly once developed.

Custom Home Community: Developers could enhance the community appeal by implementing design guidelines for custom homes, creating an upscale yet affordable neighborhood.

Alternative Uses: While residential development is the primary focus, the property could also be adapted for alternative uses such as storage facilities, RV parks, or mixed-use developments, depending on market demand.

Bonus: Existing 2,100 Sq. Ft. Home on Property

Adding to the property's value is a 2,100 sq. ft. home that is already built on-site. This presents multiple opportunities for an investor or developer:

On-Site Residence: The home can serve as an on-site residence for developers or project managers overseeing the construction process.

Rental Property: Alternatively, it can be rented out for additional income while development is underway.

Sales or Marketing Office: The home can be repurposed as a sales office or model home for prospective buyers looking to purchase a lot within the subdivision.

Why Invest in This Property?

With its prime location, completed feasibility studies, available utilities, and development-ready status, this property stands out as a rare opportunity in the Central Texas market. As Elgin and Bastrop continue to expand, the demand for well-designed residential communities will only increase.

Strategic Growth Area: The proximity to Austin makes it an attractive location for homebuyers looking for affordability without sacrificing access to job centers.

High Demand for Housing: With Central Texas experiencing a housing shortage, developments in suburban and rural areas are becoming highly desirable.

Development Process Already Streamlined: With major preliminary studies and infrastructure in place, developers can bypass significant time-consuming hurdles.

Diverse Investment Potential: Whether building a residential community, a rental property portfolio, or alternative development projects, this land offers multiple pathways to profitability.

Take Advantage of This Unique Opportunity

If you're a developer, builder, or investor looking to capitalize on Central Texas's rapid growth, this 18.998-acre tract in the Elgin-Bastrop corridor is an opportunity you dont want to miss. With all essential groundwork completed and a high-demand market for housing, this subdivision is primed for success.

For more details or to schedule a viewing, contact us today and explore the possibilities of this exceptional development property!