The scope of construction for East Austin’s Plaza Saltillo seems to be finalized, and now includes a previously unannounced 120,000 square-foot office building.
Media reported in August that Capital Metro and Endeavor remained at odds over finalized terms, but site plans filed a few days before Thanksgiving indicate they pinky swore on a deal. The result will be: 1) a new office building, 2) some 800 apartment units, 3) a 55,000 square-foot grocery store, 4) plus 73,000 square feet of sit-down restaurants, 5) and another 11,000 square feet of retail.
The scale of Plaza Saltillo is huge, covering five blocks of barren railroad alignment, there are no words that can adequately articulate how it this development will reshape Austin’s urban core. After all, it is not every day (every lifetime, frankly) that 10 acres of undeveloped land opens up in the heart of a vibrant city. And, it will continue to be a catalyst of ancillary development.
While Plaza Saltillo may become the focal point once construction begins, the market for East Austin condos is already burgeoning. The 2.1 acre tract just east of Plaza Saltillo at “Fourth &” is under development to bring 130,000 square feet of live/work condominium units, and street level commercial space. Meanwhile neighboring Eastside Station, a 300-unit apartment building is slated to opening late 2015 and across the street, the Arnold Oil Redevelopment is underway on a three-acre lot, with a proposed 90,000 square feet of office space and 330 apartment units.
The vision/conceptual plan is by Torti Gallas and Partners. Michael Hsu is the lead local architect, so the aesthetics will match the design sensibilities of his other popular projects, including the 04 Mixed-Use Development (Perla’s), and Lamar Union.
Before breaking down the details on the final Plaza Saltillo development, I’ll venture a guess that the office tenant will be a major tech company. I find it peculiar that there was no office space envisioned when Endeavor pitched to become the site developer, which leads me to believe the office space is not being built on spec, but on the signed line of an anchor tenant. Further, I’ve heard recently from a credible source that a major Fortune 500 tech giant is flirting with a sizable investment in Austin’s urban core. Again, this is just a semi-informed guess, but there you have it.
Ok, here is the breakdown of the planned development listed in freshly-submitted city records:
- 160 apartment units
- 55,000 sq ft supermarket
- 38,000 sq ft restaurant
- 120,000 sq ft office
- 191 apartment units
- 2,000 sq ft retail
- 13,000 sq ft restaurant
- 191 apartment units
- 4,000 sq ft retail
- 11,000 sq ft restaurant
- 158 sq ft apartment units
- 4,000 retail
- 11,000 restaurant
- 5,000 sq ft restaurant
- 100 senior housing units
For comparison’s sake, here is the breakdown that Endeavor included in its initial vision, which narrowly won favor with the Cap Metro board over rival teams at Riverside Resources, and another that paired Austin’s Constructive Ventures with Dallas-based Trammell Crow Co.