Purchased in 2010 with an eye toward developing the property into expanded civil court space, a $22 million site at 308 Guadalupe St. is up for bid, Travis County commissioners decided Tuesday.
The property takes up the entire block and is currently being used as a parking lot. Travis County’s $287 million courthouse construction bond failed in November 2015, and many in the real estate community claimed the block was more valuable as a private development than as a courthouse, according to a news release from County Judge Sarah Eckhardt’s office.
No details were provided on how much the county stands to profit from the possible sale or lease of the property.
“Although it is not in the taxpayers’ interest to release details during negotiation, based on the responses to the request for proposals it is safe to say the county will receive significant value for this asset above the original purchase price,” the release states.