Endeavor, Long View Equity Team On Retail Center Near Dripping Springs
ABJ – 3/17/2022
A commercial center is planned on 8.7 acres near the bustling Belterra community, another spot for businesses to flock on the road between Austin and Dripping Springs. Long View Equity LLC and Endeavor Real Estate Group LLC have partnered to develop Ledgestone East, which will have both retail and office space, at the corner of Ledge Stone Drive and U.S. Route 290. The center will span 58,000 square feet. It is slated to break ground in May and open in the third quarter of 2023.
El Mercado’s Downtown Austin Property Sold; Site To Be Redeveloped
Austin American Statesman – 3/18/2022
After almost three decades, El Mercado Restaurant Uptown will serve its last enchiladas and margaritas on Monday, as the site of the downtown Austin fixture on Lavaca Street is being sold for redevelopment.
The buyer is Infra Tech Ventures, a company that is primarily a hotel developer based in Corpus Christi, said Sam Calliham with Harrison-Pearson Associates, who represented Infra Tech in the purchase. Infra Tech’s Ajit David said his company’s plans for the property have not yet been determined, although a hotel and condominium project is one possibility.
New High-Rise Proposed Just South of Downtown Austin, Texas
CoStar – 3/17/2022
Initial plans have surfaced for a 475,000-sq. ft. mixed-use building on the edge of fast-growing downtown Austin, Texas, next to the Austin American-Statesman 18.9-acre redevelopment site planned by Austin-based Endeavor Real Estate Group.
Paperwork filed by The Drenner Group, a land use law firm, with Austin City Hall shows a 330-foot office and retail building is planned for 311 S. Congress. The proposed 311 S. Congress project must still go through a formal vetting process where the city of Austin will review the project’s zoning and site plan.
Developer Hopes To Build Tequila-Inspired Neighborhood
ABJ – 3/14/2022
Nascent developer Campo Azul Development LLC wants to bring a unique residential subdivision to Hutto, a suburb north of Austin forecasting significant growth in the next five years.
Atanasio Ranch — which would be named after Campo Azul Development President and CEO Francisco Perez’s tequila company based in Mexico, Atanasio Tequila — would have 99 homes on 17 acres, as drawn out now. It will likely be the first of several developments for this new firm, which has scooped up land north of Austin.
Barings Fully Leases 701 Rio Office Building In Austin, TX
Connect Media – 3/17/2022
London-based Barings, one of the world’s leading investment management firms, along with its development partner B&Z Development, announced that it has agreed to a full building lease at its new 124,000-square-foot, 701 Rio office building located at the northeast corner of Rio Grande Street and West 7th Street in downtown Austin, Texas. The long-term lease was executed in December 2021.
Roku Expands Office Footprint as Tech Companies Fuel Growth in Austin, Texas
CoStar – 3/14/2022
Roku Inc. is expanding its footprint at an office building in Austin, Texas, adding to the increasing technology real estate that’s making the state capital one of the nation’s fastest-growing cities. The company that produces television streaming devices has added 22,292 square feet in Northwest Austin at Stonebridge Plaza I at 9606 N. MoPac Expressway.
JLL Closes Sale Of Upscale Active Adult Community Near Austin
Connect Media – 3/15/2022
JLL Capital Markets announced that it closed the sale of Northstar Georgetown, a 210-unit, upscale, low-rise active adult community in Georgetown, Texas. A joint venture between Bain Capital Real Estate and Capitol Seniors Housing acquired the property. Completed in 2021, Northstar Georgetown is an age restricted (55+) community on 11.51 acres at 2401 Westinghouse Rd., near IH-35 and State Highway 130.
Two New Health Clinics Breaking Ground In Eastern Travis County
Community Impact – 3/17/2022
Central Health will be breaking ground on two new health centers in eastern Travis County. One community health center is located in Hornsby Bend, and the other is located in Del Valle. The new community health clinics are a part of Central Health’s Equity-focused Service Delivery Strategic Plan, which is a plan to develop an equitable, more patient-focused health care system in Travis County. Currently, there are temporary clinics operating in these areas, but the new health centers will be permanent.