This east Austin neighborhood has been a topic of redevelopment for several years. Decker Lake was in the running to become a PGA golf course and several developers are eying the land for a professional soccer team. The truth is, the Colony Park area is a relatively undeveloped prime piece of Austin real estate. It’s 10 miles from downtown and 5 miles from Mueller. Current residents have complained about a lack of transportation, business opportunities, and food and health options. Change is on it’s way, however, residents now fear the City’s new master plan will bring about gentrification. The goal is to build a destination community similar to Mueller. The city is taking proposals from a short list of developers in the first quarter of 2018. New development is inevitable in this area, but it may be a decade before we see it’s full potential. Buy and hold investors should strongly consider the Colony Park area. They may not see significant rental increases right away, but they’ll have long-term tenants and hopefully significant appreciation.