AUSTIN (statesman.com) – Land that overlooks downtown from the east side of I-35 has been bought by HSD Lakeway Holdings Ltd., a group that includes Haythem Dawlett, a residential Central Texas residential developer. The tract is two acres with a 26,000-square-foot warehouse. The Texas General Land Office (GLO) sold the property for $4.6 million, netting $2 million for the permanent school fund. The GLO purchased the property in June 2000 and used it primarily for storage.

The property at I-35 and East 12^th St. is not zoned for residential but is close to some new condominium and retail projects east of downtown. It is also near Riata Partners’ planned 475,000-square-foot mixed-use development at 11^th St. and I-35.