4312 AVENUE A was recently rezoned to MF-3-NCCD-ETOD-DBETOD-NP, presenting an extraordinary opportunity to redevelop the site into a one-of-a kind luxury residential project unlike anything else in the neighborhood. The subject property is a 75’ x 125’ corner lot with alley access located at the intersection of West 44th and Avenue A, just one block from the planned light rail station to be built at the corner of 45th Street and Guadalupe.

A redevelopment feasibility study conducted by Land Answers, Inc. indicates that this multi-family building site can support a five-story building with a height of 70 feet, comprising 20 residential units averaging 1,156 square feet each, and a total floor area of 25,780 square feet, plus 11 covered parking spaces. The zoning regulations for this 9,370 square foot corner lot permit up to 60% impervious cover—approximately 5,625 square feet—and a maximum building footprint of 5,156 square feet. According to Development Planning Consultant, Jim Wittliff, the proposed project is well-suited for the newly approved building code, which allows construction of single-staircase buildings up to five stories in height. A copy of Land Answers, Inc. report is available upon request.

The subject property’s unique location is highly desirable as it is situated adjacent to both the Hyde Park Historic District and the light rail transit corridor leading to the University of Texas and downtown Austin. Located in a rapidly appreciating area, this property enjoys proximity to numerous local amenities within a half-mile range such as the Triangle development with many restaurants, Central Market retail center and Heart Hospital, Hyde Park’s neighborhood Shipe Park and Pool, the Hancock Golf Course, and the 5-star Commodore Perry Estate Resort. According to walkscore.com, the availability of nearby amenities makes Hyde Park one of the most walkable neighborhoods in Austin with a Walk Score of 84 and a “biker’s paradise” with a Bike Score of 94.

List price: $2,250,000

For more information, contact the listing agent. Please do not walk onto the property without an appointment.