The details
The 16 acres of land is owned by the New Braunfels EDC and is located on Gruene Road and Common Street behind HD Supply; the land was initially intended for an expansion of the business, which will not be moving forward, according to agenda documents.
Earlier this summer, the EDC met and moved forward with bringing on a consultant to analyze the property, evaluate the market potential and create a financial model.
The full scope of work, according to the agreement, includes:
- Documenting economic trends
- Collecting demographic data of residents
- Identifying market trends for potential residential and commercial uses
- Identifying public revenue streams for the city
The study is expected to be completed early next year.