Sowing Seeds of Transformation in Waco, TX
I apologize for those of you who reside outside the State of Texas. Not because Texans are a proud people, but simply because you might not understand how boring the drive between Austin and Dallas/Ft.Worth is along I-35. And if you don’t understand how boring the drive is, you might not understand the need for something exciting to do along the way. At almost exactly half way between the two major cities sits a small town with a Big 12 identity. The city is Waco and the university is Baylor University.
Baylor is the largest Baptist University in the Nation and the oldest college in the state of Texas. Despite being around the longest, total enrollment hovers at just over 14,000. What this sleepy town needs is some action! Well, look no further. At least look no further than a proposed and very ambitious plan to pump large sums of public and private money into this old town and the University that occupies it.
The brain child behind this large project is Developer Rick Sheldon and he’s got the high-tech animated video to push it. (http://www.1000friendsofwaco.com/ ) The project includes significant development in Hotel, Retail, Parks & Public Areas, Bridges, Walkways, Convention Center, Marinas and a 55,000 seat domed stadium for those fierce fighting Baylor Bears. There is also a very agressive project for expanding the I-35 bridge that connects North and South Shore of the Brazos River.
The overall project is way to comprehensive to cover in this post. What I would like to do is pose the question, “how does this affect the Baylor real estate market in Waco?” Well, first of all, this project is a proposal at this point. It would require significant cooperation from local, state and federal governments as well as significant private investment. We’re talking easily in the Billions from start to finish. At the end of the day, this dream might be a pill that is just too large to swallow. So don’t go buying up land in Waco just yet!
On the other hand, if you’re interested in purchasing property in Waco, it might not be a bad reason to push you over the hump. As with any investment, risk is conversely acquainted with reward. The best way I have heard this explained is that “scared money don’t make money!” I wouldn’t necessarily be the first one in on this land grab, but I would be careful not to be left out either. Take a look at the master plans available, make some decisions on what areas will be the most desirable for a student whose focus is study but needs to get out and enjoy the city a little. The seeds of change have been planted in Waco. Vision is something that people respond to, even in tough economic times. I would be real surprised if nothing came of this push to bring Baylor’s home town of Waco into the modern age of capitalism. The picture has been well painted, now we wait and see if the paint dries the same color.