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High-Profile Property in Austin, Texas, Could Test Investor Demand

Cielo Property Group Lists Rare Slice of Undeveloped Land in Central Business District
Cielo Property Group bought Block 87 in 2018 and previously planned to develop a high-rise tower with offices, a hotel and condominiums, pictured. Now the developer has listed the block for sale. (City of Austin)
Cielo Property Group bought Block 87 in 2018 and previously planned to develop a high-rise tower with offices, a hotel and condominiums, pictured. Now the developer has listed the block for sale. (City of Austin)
CoStar News
August 31, 2020 | 10:53 P.M.

A prominent developer is putting a rare chunk of undeveloped land in downtown Austin, Texas, on the market in a city that was one of the hottest places for real estate investments in the country before the pandemic.

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