The Texas Department of Transportation is moving rapidly toward paying $8.9 million for a large plot of raw Southeast Austin land for a new office complex, even though the agency had talked with Austin Community College about buying a similarly sized parcel a few miles away for about $2.5 million less.
The Texas Transportation Commission’s vote May 25 to proceed with the more expensive tract also came despite receiving an appraisal showing the per-square-foot price was a third higher than another buyer paid for neighboring land two years ago.