Austin Real Estate Blog

Southwest Austin has begun a mixed use property boom. A recent addition to this area is the Class A office complex, Capstar at Compass Plaza. The eight story, 115,000 square foot property began construction in July and is expected to be completed within the next year. The property has already been preleased to several businesses, including Compass bank. Three Capstar companies, all owned by R. Steven Hicks have also preleased space in the building. These companies are Capstar Investment Partners LP, Harden Healthcare Texas LP, and DMX Inc.

This part of southwest Austin has seen an increase in mixed use properties, which include commercial, retail, and residential space. This building is located on the southeast side of MoPac Expressway, and is considered a gateway to downtown Austin. Also in the works for this area is 5^th Street Commons, located between West Lynn and Campbell streets. This area, through development of Gables Residential and the Austin office of Direct Development will include 138 residential apartments and 38,000 square feet of retail space. Gables is also working with Capital City Partners for a 165 apartment unit and additional retail space on the corner of Fifth and Pressler Streets. A seven story garage is also planned for the area on Fifth and Lamar streets, created by Schlosser Development Corp. This will also provide about 10,000 square feet of retail space.

The creation of these mixed use properties provide Austin with increased revenue and give people the benefit of being close to everything, including downtown. There are currently several in development.