Salient Information

Subject pad site is located on the east line of RR 620 North just south of Foundation Road. It is located about one-half mile south of Anderson Mill Road and 3 miles north of RM 2222. Very strong demographics and high traffic counts. Subject tract has HB 1704 DENSITY AND HEIGHT EXEMPTIONS. Level rectangular pad site with moderate trees. City of Austin 2-mile ETJ.  Utilities to site. Excellent pad for bank, restaurant, strip center or mixed-use. Long-term ground lease required. See broker for details.

NEW HIGH-END PROJECT PLANNED JUST NORTH OF SUBJECT PAD SITE

High-end retail has been slow to establish a significant foothold in Far Northwest Austin despite the affluence of residents in the immediate area along RR 620 North between Anderson Mill Road and RR 2222. However, a Houston developer announced plans in September, 2007 to change this with $85 million mixed-use development Villagio to be built just north of Foundation Road near the subject pad site.

The project will feature 117,000 square feet of upscale retail, 32,000 square feet of office space and 288 luxury apartments to the 29-acre tract. The developer sees parallels between Far Northwest Austin and upscale places like The Woodlands and Cinco Ranch in the Houston market. He envisions a smaller version of lifestyle-center projects like The Domain and Hill Country Galleria that join boutique-style retail with upscale residential units and office space.

Retail at Villagio will include at least four 5,000-square-foot upscale restaurants, two bank sites, salon, coffeehouse, and a mix of predominantly local boutiques and specialty stores. The apartments will be among the largest in the submarket, ranging from 700 square feet for the smallest one-bedroom to 1,500 square feet for the larger two-bedroom units. Two four-story parking garages will be hidden from view by multifamily units that will surround and top the parking.

Approximately 15 of the 29 acres (52%) can be developed due to maximum impervious cover limits. The developer will add a 5-acre lake in the rear of the property as an amenity. Work should start on Villagio in March, 2008 with an estimated construction period of 24 months. The 620 corridor between Anderson Mill Road and Four Points is fairly affluent. Please click link to "RR 620 Pad Site Flyer" below which has detailed demographics for the subject's market area. 

Please click link below for aerial, maps, photos, plat:

Link to Listing Information on Loopnet

Click to Download  RR 620 Pad Site Flyer
Click to Download  ABJ Article About New Development on RR 620 North

For more information, contact:

John W. Blunt, Jr.

Blunt Commercial Properties

1206 West Slaughter Lane, Suite B

Austin, Texas 78748

Tel: 512-292-3377

Email: jwblunt@bluntproperties.com

URL: http://www.bluntproperties.com

Disclaimer:  All information presented herein is from sources deemed reliable; however,
it is subject to change, modification, error, omission or withdrawal from the market.