Austin Business Journal shares, "One of Austin's growing suburbs will purchase a one-acre parcel in its city center, continuing a wave of cities around the region taking control of land in their downtowns.
The Elgin City Council on May 6 unanimously gave the go-ahead to its economic development corporation to acquire a property at 403 Central Avenue, near the city's new police station. The EDC in February approved the $305,500 purchase from DLJ Holdings LLC. The property was valued for tax purposes at $153,000 in 2025, according to Bastrop County property records.
With the move, the city of Elgin — about 25 miles northeast of Austin with a population of around 12,000 — will acquire a key parcel on the fringes of the city's downtown, which is brimming with restaurants, coffee shops and other businesses.
Cities around Austin — Kyle, Hutto, Leander, Manor, Buda, Georgetown, Liberty Hill and Lockhart, for example — have put a particular focus on either preserving or building out their downtowns as more people move to the region. Having control of that land is seen in economic development circles as a way for cities to dictate what amenities can be offered to their booming populations and help create a sense of place.
EDC director Owen Rock said during the May 6 meeting that it's "not very often" that a parcel like this becomes available. Officials noted during the meeting that it was previously planned to be an assisted living facility.
"We thought it was a good idea to get control of this right now. Eventually, we will work with a developer to get a project on that," Rock said, adding that it's a "great asset for the community to have control of that property.""
Source: Austin Business Journal
Written by: Justin Sayers
Published: May 8, 2025
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