Georgetown Accepting Proposals to Purchase Downtown Properties
The City of Georgetown is accepting proposals from potential buyers for three city-owned buildings. The buildings for sale are the historic post office at 113 E. Eighth St., the Municipal Court/City Council Chambers at 101 E. Seventh St., and the Visitors Center at 103 W. Seventh St. The Municipal Court and the Visitors Center buildings are located on the historic Square around the Williamson County Courthouse. The historic post office is located one block east of the Square and is currently home to City Hall.
In total, these buildings represent more than 25,000 square feet of commercial space in the nine-block core of downtown Georgetown. All three properties are zoned mixed-use downtown, which allows for a number of uses including office, retail, restaurant, hotel, or event facility.
While purchase price is one consideration, the goal of this process is to connect with buyers willing to provide the best overall proposal for of each property. Proposers must submit a business plan and timeline detailing the intended use of the site.
All three properties are located in the city’s Downtown Tax Increment Reinvestment Zone or TIRZ. The purpose of the TIRZ is to facilitate the redevelopment of downtown Georgetown, furthering the goals of the city’s Downtown Masterplan to create a mixed-use, pedestrian-oriented environment. Both the TIRZ plan and the Downtown Masterplan call for the use of public property to ensure Georgetown maintains its unique character, maximizes opportunities for thoughtful development, and enhances the quality of life for residents.
Proposals are due by 2 p.m. on May 1. The City will be hosting two open houses for all three properties. The open houses will begin at each building at 4 p.m. on March 1 and March 8.
More information about the process and about each property, including photos, maps, videos, and a virtual tour, is available at realestate.georgetown.org. Visitors to the site also can sign up for regular email updates about the process.
