Sparrow Allies Acquires Acreage at Kyle’s Plum Creek

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Newmark Knight Frank arranged the recent land sale of six acres, component of 125 acres sold in the past one year at Plum Creek, a 2,200-acre master-planned community in Kyle. The land was acquired by Austin-based Sparrow Partners, which is creating the site.

NKF’s Joshua LaFico, Jesse Weber and also Andrew Childers represented the landowner, the Negley Family. NKF worked carefully with the advancement manager MG Real estate Advisors, an associate of Momark Growth, led by long-time Austin area programmer Terry Mitchell as well as task principal Megan Shannon.

“We continue to see consistent development momentum along the I-35 corridor,” mentioned LaFico. “Through the pandemic, single-family residence sales in Austin are moving at a document rate, creating inventory to drop. Suburban areas such as Kyle are profiting from rising housing costs in the core of Austin. Neighborhoods that create walkable, mixed-use environments with an emphasis on eco-friendly space will remain to prosper.”

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