Land originally purchased by Travis County to be the site of a new courthouse will instead become a private development, the Austin Monitor reports.
Located at 308 Guadalupe Street, the land was bought for $21.8 million in 2010 as a new site for the Travis County Courthouse. After voters in 2015 didn’t pass a bond that would have funded construction, the county began looking for a developer.
The Travis County Commissioners Court are voting today on whether a deal with Lincoln Property Company and Phoenix Property Company should go forward. The companies will lease the land for 99 years for a total of $430 million.
The spot is not subject to Capitol Corridor View Restrictions and will be home to a large development that includes residential, office, retail, and parking.
Travis County still hopes to find another site to replace the current 86 year old courthouse.