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Grocery chain H-E-B buys property in 'food desert'Grocery chain H-E-B buys property in 'food desert'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=154942016-12-21T06:00:00Z2016-12-21T22:05:00Z

​​​DEL VALLE AREA - Grocery chain H-E-B has purchased 17.2 acres near the Austin airport, the company confirmed to the American-Statesman​.

The land purchased by H-E-B is part of Velocity Crossing, a planned 390-acre development at FM 973 and Texas 71. 

​The tract, at the southeast corner of FM 973 and Texas 71, is H-E-B’s first land acquisition in the Del Valle area.

H-E-B said it doesn’t yet have a development plan for the site.

The property H-E-B has purchased in far Southeast Austin is in an area that’s primed for rapid growth.

Metrostudy, which tracks the Austin-area market, says 55,916 new homes are in the planning pipeline for that area.

Developers have said the area has long been in need of more goods and services, with some referring to it as a “food desert” due to the lack of grocery stores.
Austin American-Statesman
Austin-Round Rock
Retail
http://www.mystatesman.com/business/grocery-chain-buys-property-del-valle-area/u5jYUwE4AQdWCf1kQcdckM/

​Check ou​t Austin Retail Market Reports​ and see what's happening.

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