Overview
Summary
- Land Price $799,000
- # of Developable Units 68
- Land Size +/- 9.178AC
The site contains two finished Quadplex properties. One sold in 2023 for $1,400,000 or $350,000/unit 17 lots remain for development, one quad per lot (68 units).
The development is in the affluent Remington Park neighborhood in Tyler, Texas where the average price of a home in the last two years was $515,000. The schools are among the most desirable in the Tyler market.
The City of Tyler has stated that it would explore tax abatements to aid in the development of the lots. All lots are builder-ready with all entitlements in place. Architectural and engineering plans have been completed, Centennial Trail is partially completed, and water and sewer connections are ready for use.
Key Facts
- — The average sales price of a home in the subdivision is $515,267 or $171/SF.
- — Year-over-year non-farm job growth is at 5.3%.
- — Tyler has experienced double-digit population growth over the past decade
- — The median household income within a 1-mile radius of the site is $139,740 per year.
- — The new medical school at UT Tyler will have an economic impact of $1.7 billion annually and create over 18,000 jobs
