ACC looking to sell portion of Pinnacle Campus property
AUSTIN, Texas (FOX 7 Austin) - The Austin Community College District (ACC) is exploring opportunities to sell its Pinnacle Campus building and the nine acres it sits on in southwest Austin.
The ACC Board of Trustees approved a resolution on Monday, April 1, declaring the building as surplus property and authorizing the college to post the building for sale. "Pinnacle Campus has served the district well over the years, but it's time to take a closer look at how we might improve the campus experience for our students in the southwest region," says Dr. Richard Rhodes, President/CEO of Austin Community College District.
The property sits on approximately 55 acres near the Y in Oak Hill in southwest Austin.
The remaining 46 acres, current green space, would not be available for purchase.
"The best way to learn what the property is worth is to list it," says Neil Vickers, executive vice president of Finance and Administration. "By putting the building on the market, the college will get real data that can be used to make a decision that best serves our students and community."
ACC hired the Austin office of commercial real estate firm CBRE to broker the sale. Once bids are received, the college will evaluate its options and make a decision to accept a bid or develop a different long-term plan for the use of the building and the entire property.
The process is expected to take close to a year.
Revenue from the potential sale would be reinvested into the southwest region including the
possible development of a new ACC campus on the property. ACC closed Pinnacle Campus in summer 2018 to evaluate needed repairs and infrastructure improvements and develop long-term plans for the property. For more information, visit austincc.edu/pinnaclenextsteps.