City Selling Land Near Bergstrom Airport
By Bettina Meier
The city is selling 36 acres of land near Austin Bergstrom International Airport. And while you might think property near an airport runway might not be the most desirable, the land is a hot commodity.
Usually, loud noise can drive people away from properties and lower land values. But that’s not the case around Austin-Bergstrom International Airport. Some members of the Austin Board of Realtors say prices in that area have been going up over the past few months because of the nearby Formula One track.
“The Formula 1 racetrack is going to bring interest from all over the United States and even outside of the United States, because everyone is really excited,” said Dolise McClure, a member of the Austin Board of Realtors. “I am seeing a lot of people from all over that would be interested in investing in properties like this.”
The city originally bought the land from residents to create a sound buffer near the end of the airport’s runways.
The money acquired from the sale of the properties will be used to relocate more residents from the area under the airport’s noise mitigation program. So far 420 families have been moved.
The auction for the land started today and continues until October 10.