Greystar steps up to complete Austin purchaseGreystar steps up to complete Austin purchasehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=95812012-09-18T10:59:00Z2012-09-18T00:00:00Z

AUSTIN - Developer Greystar has finalized the purchase of Lamar Plaza, clearing the way for the aging South Austin strip mall to be remade into a mixed-use project.

The nine-acre site was valued at $9.5 million by the Travis Central Appraisal District.

Development plans include more than 400 apartments, 85,000 sf of retail space, restaurants and an expanded Alamo Drafthouse movie theater.

Renderings show a collection of buildings that will primarily be three-, four- and five-stories tall, with the largest structures facing South Lamar Blvd. Parking for the apartments and ground-floor retail spaces will be in on-site garages.

The project is schedule to be complete by the end of 2014. Meanwhile, the 1950s-era shopping center's existing merchants will most likely remain open until mid-November.

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/business/developer-completes-lamar-plaza-purchase-2460645.htmlRead more at {Source}

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