Milestone Community Builders, the company that won the bid to buy the land, hasn't said what will be built on the land along 45th Street near MoPac, but with Austin's booming housing market, it's a good bet these long-time residents could have new neighbors.
Still, people here say the value of the land goes beyond $46 million.
"We've tried to keep it a secret of course because we love it," neighbor Sarah Speights said.
Speights has lived in the neighborhood for more than 40 years. She says residents come to this area for a relaxing escape from the world.