2008 E William Cannon Dr
About this property
This 11.63-acre suburban infill development opportunity is strategically positioned along E. William Cannon Drive, approximately 2,000 feet east of Interstate 35 in the high-growth South Austin submarket. The offering consists of two contiguous parcels: 2008 E. William Cannon Drive (6.79 gross acres) and 1814 Nelms Drive (4.88 gross acres), providing a rare dual-access configuration that combines commercial arterial visibility with quiet residential ingress and egress via the Nelms Drive cul-de-sac. Comprehensive civil engineering feasibility and site planning completed by MIGL Engineering demonstrate an optimized 8.86-acre net developable footprint designed specifically for Class A multifamily density. Utilizing an MF-4 rezoning framework, draft site concepts establish a high-yield potential ranging from 171 to 215 residential units across 300,000 to 381,000 square feet of gross floor area. The engineered layouts accommodate building heights up to 58 feet while integrating flexible double-podium, tuck-under, and surface parking structures. The site is substantially de-risked by existing utility connectivity, featuring a 10-inch ductile iron wastewater main on-site and 12-inch water mains along both street frontages. Furthermore, the tract leverages an existing regional water quality and detention facility serving the drainage basin, saving millions in upfront site work. Capitalizing on the City of Austin's elimination of municipal minimum parking requirements, a buyer can maximize buildable density and capital efficiency in one of Austin's most accessible multifamily corridors.
Property details
Location
About the Area
2008 E William Cannon Dr is located in Austin, Texas, in Travis County. Travis County is home to Austin, the capital of Texas and one of the fastest-growing major cities in the United States. Beyond the urban core, Travis County still contains significant ranch and acreage properties in its western reaches, where the Hill Country meets the city and land values reflect both agricultural heritage and proximity to one of America's most dynamic economies.
The Colorado River flows through Travis County, impounded into Lake Travis and Lake Austin, key recreation anchors for the region. The Balcones Escarpment marks the transition from the limestone Hill Country in the west to the Blackland Prairie in the east. Barton Creek and its tributaries carve spring-fed swimming holes and nature preserves within the urban fabric.
Austin had an estimated population of 967,862 as of 2023. The 78744 zip code has a median household income of $78,474, a median home value of $307,000, and a median age of 32.8. The average household size is 2.64 people.
Austin's economy is anchored by the University of Texas, state government, and a massive technology sector that has attracted Apple, Tesla, Oracle, Dell, and hundreds of startups. Travis County acreage properties command premium prices reflecting proximity to the Austin job market, major airports, and world-class amenities.
Demographic data sourced from the U.S. Census Bureau, American Community Survey 5-Year Estimates (2023).
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