Sonesta owner and local developer Adrian Overstreet and his team have agreed to purchase the Field of Dreams site on Highway 71 in Bee Cave.
“Upon our purchase of (the tract), we will put deed restrictions that say it must forever remain a park,” said Overstreet. He went on to say that he and his partners would then negotiate with Bee Cave City Council to donate the land to the city. The hope is then that the City will lease the land to the LTYA on favorable terms.
Overstreet told us- "Our purchase from LTYA is contingent on the city agreeing to accept a donation of the Field of Dreams as a park as well as the City and LTYA agreeing to an operating agreement for the Field of Dreams going forward. All of the parties have to be in agreement as to all of the documents for us to close this transaction. Approval of this transaction will also have to be posted on a city council meeting agenda and voted on.”
“There are a lot of details to be worked out,” Overstreet said. “My goal is to get this accomplished by the end of the year.”
It is understood that part of this deal is an exchange of impervious cover credits for future development in Bee Cave.
The price was said, by the LTYA, to be around 1/3 of the original asking price but still "some millions". With this money in the bank it is not clear how the plans for a much larger Field of Dreams in Lakeway further down 71 will play out.
The LTYA would now have the money to retrofit the existing Field. LTYA has expressed their desire to see both facilities funded and operational.
LTYA's Scott Cronk told us "Given the growth of LTYA it’s pretty clear that we’ll need a multi-site solution to handle all the kids playing sports in our area which means we’ll need to utilize both the current Field of Dreams and the additional space on Bee Creek Road.".
Lakeway Mayor Joe Bain stated - "LTYA is growing so fast that the are in dire need of additional facility options.
This proposed land sale looks like a win for LTYA because it appears they will be able to not only use the current park land in Bee Cave but also expand into Lakeway’s land on Bee Creek Road should Travis County move forward on its obligations regarding that location. The Travis County Commissioners Court approved the county’s parks plan Tuesday that included development of the Bee Creek Road park area in Lakeway as a priority.
The success of both locations would be a double win for the area children who would have a place for organized sports activities.
Lakeway is proud to continue to be a leader in the area on supporting area youth and thanks Commissioner Gerald Daugherty and the rest of the Commissioners Court for their efforts to make this dream become a reality.
I am hopeful Bee Cave will also support the sports complex concept that Lakeway and the county envision. Many area youth who are LTYA members are also residents in Bee Cave and their extraterritorial jurisdiction.
It’s all about the kids!"
When asked if he believed the Bee Cave deal may reduce the pressure on Travis County to fund the larger, Lakeway field, his answer was "No".
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