AUSTIN-The University of Texas owns 405 acres of largely undeveloped land straddling MoPac Boulevard in Northwest Austin. That’s about to change, presenting an array of opportunities for the university and the city’s business and real estate communities.

The university has hired Ft. Worth-based Carter & Burgess to create a master plan that will guide development of the property as a satellite campus to the main campus in central Austin. The plan’s timeline: 20 to 25 years.

The architecture, engineering and construction management firm is teaming up for the project with Ayer/Saint/Gross of Washington and Baltimore, a planner of educational facilities. In the 1990s, UT hired Cesar Pelli & Associates, based in New Haven, CT, to update the master plan for the main campus.

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