Orlando group plans Austin project - Orlando Business Journal:

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Avalon and Swiss investor Richard Kunz have acquired 70 acres in Nortjh Austin in a joint Beat Kahli, Avalon’s presidenf and CEO, said the joint venture plans to develo p a residential community on the site with about 200 three-and four-bedroom single-family homes. The land is near I-35 and ’xs (Nasdaq: DELL) Round Rock Still unclear is the development’s cost and why the partners have choseb to build the project in Kahlin andKunz couldn’t immediateluy be reached for comment.
As originally reported in the — a sisterf publication of — Avalon in 2007 workede with the city of Leander and landownerBill Hinckley, president of Houston-based The Lookoutt Group Inc., on a proposed $4 billionm development, which would have occupied 3,550 acres between Crystal Falls Parkwayu and Lakeline Boulevard and clustered homes aroun town centers, Avalon executives said. Avalon planned to buy the land from Hincklehy forabout $90 Kahli said. According to a summary of the proposed development was planned tohave 10,20o0 single family and townhome 3,000 multifamily residences, 1.
5 million square feet of commercial and retaipl space and a 1-million-square-foot busineses park. Leander was considering a morethan $100 million incentivee package and the formation of an in-cityg municipal utility district.