Balcones Heights may acquire nearly 50 percent stake in Wonderland of the Americas mall
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Balcones Heights is considering buying a 45.6 percent stake in Wonderland of the Americas mall, generating revenue and giving it a say in what happens to the property.Tom Reel /Staff file photo
In Balcones Heights, which covers less than 1 square mile, Wonderland of the Americas mall is prime property.
About 80 percent of the land in the city is commercial property, with the single-family residential tax base consisting of about 240 houses, said Lorenzo Nastasi, the city’s director of economic development and public affairs.
As the cost of services rises, officials are searching for new sources of revenue which could include an investment in Wonderland, the largest single piece of property in Balcones Heights.