The economic value of the developed Marshall Tract is an important consideration in today's world. It's easy to get an estimate of its economic value because the Travis County appraisals are all public knowledge.
The land is current owned by Dan Marshall et al. It is zoned single family residential (SF2). For current tax purposes the land is value at $4,342 for 37.3 acres. That's $116 per acre. It is valued so low because the owners claim a Wildlife Management exemption. Only $106 per year in taxes are paid on the undeveloped land.
As a result there are strong economic reasons why local taxing authorities would embrace significant improvements on the land.
With all the constraints to development of the land – conditional overlays, environmental concerns, entrance and exits, water/sewage and topography – it has been estimated that only 74 houses can be built on the property. If the houses and land were valued at $700,000 to $1M each, the total value of the economic development would be between $52M and $74M.
The Palisades development, considered to be similar to the proposed development on the Marshall Tract, is valued at $106M. And, the Belmont Senior Living Center, considered to be similar to the one proposed for the Marshall tract, is valued at $15M. The total development of the Marshall Tract would be approximately $121M.
The houses and land already in Lost Creek have an average value of $500,000. That means, the total value that we have invested in Lost Creek is about $625M. This is larger than any of the other types of development of the Marshall Tract and must be protected as a minimum and enhanced if possible.
Unfortunately, we have no way to economically value quality of life and changes to the character of the neighborhood. That's up to you to judge and express.
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