Search
 

State Readies 1,942-Acre Auction

FORT BEND COUNTY, TX-The Texas General Land Office places a $31.2-million minimum on the Grand Parkway acreage. Sealed bids are due by March 1. The proceeds will benefit the School Land Board and Permanent School Fund.

By Jennifer D. Duell | Updated on January 07, 2005

FORT BEND COUNTY, TX-The Texas School Land Board and Permanent School Fund will auction 1,942 acres near Grand Parkway to the highest bidder. The minimum bid for the land is $31.2 million.

“This auction is part of an ongoing series of sales in which we take the profit from the land sales and reinvest it for the Permanent School Fund,” says Jeff Boudreau, land development manager for the Texas General Land Office, which manages the land and isfacilitating the sale. “This is a fairly substantial sale in terms of dollar value and size.”

Boudreau says the land is best suited for single-family and multifamily development although some acreage could hold commercial development. “We expect there to be considerable interest in the land because this whole area along Grand Parkway has been very active,” he tells GlobeSt.com, “and this is the last sizeable piece of land within the corridor.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.