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Consultants highlight SH‑620 corridor parcels as likely redevelopment candidates
Summary
Presenters showed an improvement‑to‑land‑value analysis that flags commercial and mixed‑use parcels along SH‑620 with low improvement‑to‑land ratios (under ~2.2:1) as most likely to redevelop; the map will be used in community exercises to locate 'vision plan sites.'
Consultants told residents that limited vacant land in Lakeway (about 7% of land both vacant and non‑residential) means many changes will come through redevelopment rather than greenfield development. They presented an improvement‑to‑land‑value ratio analysis and highlighted parcels along State Highway 620 with ratios low enough (below roughly 2.2:1) to suggest higher redevelopment potential.
Presenter (speaker 4) walked attendees through the methodology — illustrating how increases in land value after public investments reduce the improvement:land ratio and make redevelopment more likely — and invited participants to place stickers on a large floor map to indicate where they would or would not welcome new services or land uses.
