Austin's mixed-use project squares up at Plaza SaltilloAustin's mixed-use project squares up at Plaza Saltillohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=125712016-03-24T05:00:00Z2016-03-25T20:10:00Z

​AUSTIN - Preliminary plans have been unveiled for the Plaza Saltillo mixed-use project in East Austin.

The land is owned by Capital Metropolitan Transportation Authority, which operates the Capital Metro Red Line—the commuter rail that runs from Leander to Downtown Austin.

Endeavor Real Estate Group and its partner Columbus Realty Partners Ltd. won the competition to develop the ten-acre site that runs six blocks east of I-35 between East Fourth and Fifth Streets and recently agreed to a 99-year ground lease with Capital Metro.

Endeavor will pay Capital Metro a first year base rent of $1,625,000 with fixed rent increases for the first five years of the lease and variable increases thereafter.​

The mixed-use project is expected to include residential, office, retail and open space. No public parking is planned.

Construction will start in 2017, and the project likely will take six to seven years to be completed.

Highlights of the plan include:

  • The Texaco Oil depot warehouses and Scoot Inn building will be preserved and spruced up.
  • A total of 800 residential rental units will be built.
    • 15 percent of the units will be reserved for affordable housing
    • About 100 residences will be reserved for senior housing.
  • About 110,000 sf of retail is planned. The housing will be built above the street-level retail.
  • A six-story, 120,000-sf office building is envisioned for the property closest to I-35.
  • 1.8 acres will be developed as public park land. About 0.75 acres of private landscaped space will be provided to residents above the parking structure. Another 0.25 acres will be developed as private park space for dogs and other uses.
  • The Lance Armstrong Bikeway will be extended from I-35 to the Plaza Saltillo rail station at Fifth and Onion Streets
  • The Pine St. Station, another historic building on the site, will be moved to Capital Metro-owned land farther east
Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2016/03/endeavor-reveals-plans-for-plaza-saltillo.htmlRead more at the {Source}

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