AUSTIN (KXAN) – Austin City Council has approved the annexation of more than 2,600 acres of land known as Dog’s Head, a move city leaders and developers say could pave the way for decades of future growth between downtown and Austin-Bergstrom International Airport.
The agreement, approved Thursday, brings the property into Austin’s city limits through a 45-year development agreement. The site sits along the Colorado River and north of the airport.
Under the agreement, the property could eventually support a mix of residential, commercial and industrial development. City documents estimate the project could generate as much as $3.5 billion in new property tax revenue over the next 30 years.
Developers see major opportunity
KXAN spoke with lawyer Richard Suttle, who represents Endeavor Real Estate Group, the company that owns the property…