Shops at East Park
Plans are in place to develop the Shops at East Park – a mixed-use project spanning 43,240 square feet on 4.5 acres located at the corner of South Vista Ridge Blvd. and East Park St. in Cedar Park.
Scott Malone, founder of VERP LLC, plans to break ground in the first quarter of 2014 on the first phase of the project featuring a 9,500-square-foot building. Additional buildings are to follow based on tenant demand.
William Harrell of Duke Commercial Real Estate Services LLC is handling the leasing for Malone and has reportedly already pre-leased 3,000 square feet of space in Phase I to an orthodontist. …Read Entire Post
Seaholm Power Plant
The papers are signed. The City of Austin has conveyed the Seaholm Power Plant on the southwestern edge of downtown to Seaholm Power, LLC – the developer who has plans to redevelop the property into a $100-million mixed-use project. The beloved landmark, sitting on five acres of prime waterfront property, will be converted to 60,000 square feet of office space that will feature a plaza and green space open to the public. In addition, the construction of a two-story retail building is expected to be complete by next summer which will be anchored by California-based specialty grocer Trader Joe’s. Construction of a 30-story apartment building featuring approximately 300 units will take about 30 months to complete. …Read Entire Post
West End Center
The West End Center (50,100 sf), located at 1214 W. Sixth St., has been renamed West Side Village by new owner AWSV LP. The mixed-use property, anchored by Julian Gold is expanding its space by 5,000 square feet to total roughly 15,000 square feet. …Read Entire Post
Greystar recently completed its purchase of Lamar Plaza at 1201 S. Lamar and has plans to redevelop the aging South Austin strip mall into a mixed-use project. Development plans include more than 400 apartments, 85,000 sf of retail space, restaurants and an expanded Alamo Drafthouse movie theater. The project is schedule to be complete by the end of 2014.
Click to read entire article: Developer completes Lamar Plaza purchase (Austin American-Statesman, 9-18-12); for more information, read Lamar Plaza is Dead. Long live Lamar Plaza! (Austin Post, 9-19-12)
Portion of Freescale’s E Austin campus
A large portion of the Freescale facility located at 3501 Ed Bluestein Blvd. in southeast Austin recently landed a new owner. MFPB Ed Bluestein LLC, comprised of several real estate investors, purchased the sprawling 935,255-square-foot facility which spans nine buildings situated on 109 acres. The new owners are expected to spend additional funds to upgrade the decades-old facility as they are able to attract new and expanding tenants looking for large blocks of space. Helen Jobes, CCIM, with Kennedy Wilson represented the buyer in the sale.
The seller, Freescale Semiconductor, was represented by NAI REOC Austin’s Royce Lacey, SIOR, BCCR, Senior Vice President – Corporate Services Specialist, and Alan Lacey, CCIM, Vice President – Corporate Services Specialist. The sale does not affect operations at the adjacent Freescale semiconductor chip manufacturing plant located just north of the 3501 Ed Bluestein facility – one of three Freescale facilities operating in the Austin area.
Austin Planetarium Rendering
Action taken by the Texas State Facilities Commission on Aug. 15 means the vision for a science and technology museum with the largest planetarium in Texas is closer to fruition. TSFC voted unanimously to send to one of its subcommittees nonprofit organization Austin Planetarium’s unsolicited proposal to build the museum—along with a 47-story residential tower, 1,000 underground parking spaces, restaurants, a gift shop and other retail establishments—in a $240 million mixed-use development at the corner of N. Congress Ave. and MLK Jr. Blvd. on what is now State Parking Lot 7. The development was designed to meet the mixed-use and high-density criteria desired by the state.
Click to read entire article: Austin planetarium, science and technology museum closer to ground breaking (Community Impact Newspaper, 8-16-12)
Proposed thinkEAST creative district
Officials for a new creative district called thinkEast submitted a Planned Unit Development application Aug. 7 for a residential/business development on 24 acres of land at 1150 Shady Lane. The development will include residential housing along with public, studio and retail space.
“It’s geared for the creative community,” said Richard deVarga, co-owner, architect and developer of the thinkEast project. “The creative community has a strong foothold in central East Austin, and this is a way to create a hub for what’s already there existing.” …Read Entire Post
SEDL Facility at Mueller
Have you seen what’s happening at Mueller? If you haven’t driven the area recently, you might be surprised to see what is now standing where the Robert Mueller Municipal Airport once stood. I had the opportunity to tour the mixed-use project recently and was so impressed with this infill redevelopment that I wanted to share an update with you. …Read Entire Post
Even as the successful mixed-use Domain project continues to expand, additional planned development is spilling over to an adjacent 40-acre site at Burnet Road and Esperanza Crossing which will feature apartments, a hotel, shops and TopGolf, a $15-million golf-focused entertainment complex at 11301 Burnet Road.
Click to read Apartments, hotel, entertainment complex planned near Domain (Austin American-Statesman, 5-29-12) and TopGolf to build $15M complex near Domain in N. Austin (Austin Business Journal, Breaking Ground blog, 5-29-12)
Houston-based Black Forest Ventures recently acquired Austin Commons, an eight-acre, mixed-use development currently spanning roughly 26,400 square feet at 11101 Burnet Road. Black Forest plans to expand the project, possibly with a multi-family component, but there are no immediate plans to start construction.
For more information, read Austin Commons development gets a Houston-area buyer (Community Impact News, 3-25-11).