REO Sale: 20.52 Acre Austin Redevelopment Site

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Address: 1601 Royal Crest Dr, Austin, TX 78741, USA
Texas + Land/Development
Created date: May 18, 2026
Date last updated: May 18, 2026
  • ±20.52-acre infill redevelopment opportunity within Austin’s East Riverside Corridor, currently improved with the 562-unit Mia Riverside multifamily community
  • Prime urban location minutes from Downtown Austin, Oracle Campus, Lady Bird Lake, Austin-Bergstrom International Airport, and major employment hubs
  • One of the last large-scale redevelopment tracts in a supply-constrained corridor, offering significant frontage and exceptional scale with high barriers to entry for future competitors
  • Strong redevelopment fundamentals driven by continued population growth, employment expansion, institutional investment, and limited infill land availability near the urban core
  • Positioned to capitalize on East Riverside’s ongoing transformation, including active transit-oriented development planning tied to Austin’s light rail expansion and increasing demand for high-density mixed-use and multifamily product
  • Zoned ERC (East Riverside Corridor) Click here for Zoning Information

Property Description

RealINSIGHT Marketplace, in partnership with Colliers, is pleased to present 1601 Royal Crest Dr, Austin, TX. The Riverside submarket continues to emerge as one of Austin’s most compelling long-term urban redevelopment corridors, fueled by its proximity to Downtown Austin, major employment centers, and transformative infrastructure investment. Over the past several years, the area has attracted substantial institutional capital as developers and investors target urban-adjacent neighborhoods offering connectivity, lifestyle amenities, and relative affordability compared to Austin’s core districts. The corridor has seen significant multifamily absorption and redevelopment activity as renter demand continues shifting toward highly accessible “inner-ring” submarkets. Additionally, planned transit improvements and ongoing East Riverside Corridor initiatives are expected to further accelerate redevelopment momentum and increase long-term land values throughout the pocket. While Austin’s multifamily market has recently worked through a broader supply wave, market fundamentals remain supported by sustained population growth, corporate relocations, and long-term employment expansion, positioning the Riverside corridor as a high-conviction infill investment location with durable redevelopment potential.  
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Broker Details

RI Marketplace
RI Marketplace

RI Marketplace 800-915-7015

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Key Property Information

Listing Status: Available
Listing Type: Auction
Property Types: Land/Development
No. of Units: 562
Average Occupancy: 22.95
Lot Size: 20.52 Acres
Opportunity Zone: No
Parking Spaces: 919
Property Website Click Here
Address: 1601 Royal Crest Dr, Austin, TX 78741, USA

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