Burleson 4A board approves $6 million purchase of 11.027 acres on South Burleson Boulevard

The Burleson 4A Economic Development Corporation voted unanimously to authorize a real estate contract to purchase roughly 11.027 acres at 1019 South Burleson Boulevard for $6,000,000.

Alex Phillips, economic development director for the city of Burleson, presented the proposal and the contract terms, saying the tract sits within the Hidden Creek Corridor adjacent to the F Wave roofing site and would expand the 4A’s holdings. “Staff recommends the approval of a resolution authorizing the real estate contract for this purchase of this property of 11.027 acres,” Phillips said.

Phillips outlined the key contract provisions: a purchase price of $6,000,000, an earnest-money deposit of $75,000 that would apply to closing costs, a 60-day due-diligence period during which staff would conduct a Phase I environmental assessment and a geotechnical report, and a closing to occur within 15 days after the due-diligence period ends. He also said the purchase would give the 4A approximately 18 acres of I-35W frontage at Hidden Creek, which staff would market to attract new primary jobs and potential regional or corporate headquarters.

The board discussion was brief. The Chair called the purchase “a good move” and noted the site’s importance to surrounding development. Larry moved to approve the resolution authorizing the contract; Adam seconded. The motion passed by unanimous vote.

Next steps are routine due diligence and the Phase I and geotechnical studies described by staff; the resolution authorizes the contract subject to those investigations and standard closing procedures. The meeting adjourned at 04:35.