The Austin Community College District (ACC) will explore opportunities to sell the Pinnacle Campus building and the nine acres it sits on in Southwest Austin. The remaining 46 acres are not for sale because the college wants the option to build on this land in the future. During its regular meeting Monday, April 1, the ACC Board of Trustees approved a resolution 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 ACC. “This is the first step in a process that includes working with the Southwest Austin community to help us develop a learning environment for the future.”
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. ACC will consider the dollar amount as well as the intended use of the building and how it aligns with the college’s mission. 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. The building, built in 1984 as a standard office building, requires extensive renovation to provide the southwest region a better learning experience and environment.
For more information, visit austincc.edu/pinnaclenextsteps.