Is this the new Formula One Austin track site?
Recent real estate transactions near Elroy Rd. have many people wondering if it's the site of the future Formula 1 Austin track.
But a spate of real estate activity near a swatch of land owned by George "Kip" Kronenberg Jr. may indicate that the site will be near highway 130 between Elroy and McAngus roads, north of FM 812.
Although a development of 1,800 homes for a subdivision called Wandering Creek has been approved, its construction has not started and the developer's son has ties to the Formula 1 deal.
The younger George "Kam" Kronenber communicated with Texas Comptroller of Public Accounts Susan Combs about the Austin-Formula 1 deal, according to information obtained by The Statesman under a Texas Public Information Act.
In addition to the 647 acres that is planned for the residential subdivision, another 190 acres on FM 812 adjacent to Wandering Creek is under contract to a partnership whose name seller Michael Hatch could not recall, according to the article.
Adding a bit more mystery, an Austin doctor said he fought off multiple cash offers on his bid for 20 acres on Elroy Road near Wandering Creek.
While these recent transactions could be related to the F1 track development, it could also be speculative buys by hopeful real estate investors operating off similar rumors.
In the comments section of online articles reporting on Formula 1 Austin news, one commentator claimed inside information and wrote that the site will be "between fm 973, 130 toll road and hwy 71, elroy rd."
Source: The Statesman