MCLENNAN COUNTY, Texas (KXXV) – A large piece of land near Baylor University is now for sale, and a Dallas real estate company is now accepting offers on the 90-acre property adjacent to I-35.

• These 90 acres near Baylor University are now for sale. David Glasscock, senior vice president of capital markets investments at CBRE in Dallas, said the land is mixed-use, meaning we could see industrial, commercial or multifamily development.
• The price of the property depends on market demand.

TRANSCRIPT OF THE MESSAGE:
This is what we are seeing right now at South Loop Drive and Marlin Highway.

“This is a significant piece of land in the city of Waco,” said David Glasscock.

These 90 acres near Baylor University are now for sale. Glasscock, senior vice president of capital markets investments at CBRE in Dallas, said the land is zoned mixed-use, meaning we could expect industrial, commercial or multifamily development.

“Our plan is to develop the site, show people the alternative scenarios that could happen on the site, and then also mention that everyone would have to work with the city of Waco to plan the access roads and move the utilities forward. This would be a really concerted effort between the city and a private developer.”

I drove along both sides of the Marlin Highway and talked to the few businesses I saw. One said there isn’t much traffic in the area, which is one reason why Glassock says no retail stores are planned there.

“These would be service providers that offer their services in Central Texas and the surrounding areas,” Glasscock said.

25 News asked what the asking price for this riverfront property will be. CBRE does not have a specific number in mind at this time, but will rely on demand. Glasscock and 25 News have both reached out to Baylor University to see if they are interested in the property, but have not yet heard back.

“We’re trying to kind of stir up trouble and make people aware that it’s available and what different things can be wrong with the site. But like I said, it takes a developer with some creativity and thought on how to move forward with it,” Glasscock said.

25 News did some research and found that there were plans as early as 2019 to redevelop a 17-story hotel on the site in honor of former Baylor football coach Grant Teaff.

Now they are curious to see what the developers will do with the land, says Glasscock.

Follow Dominique on social media!