Real Estate Rumblings
Developers unveil updated plans for Austin's massive public marketplace
It's been almost a year since initial plans for a massive South Austin marketplace akin to Pike Place were revealed. And after some shuffling, the developers of Saint Elmo Market District have closed on the land and are ready to move forward.
The project is now helmed by development firm Maker Bros. Brandon Bolin, formerly of GroundFloor Development (and the original visionary of the Saint Elmo venture), has joined forces with Matt Stevens to form the new firm and propel the project forward.
"We have assembled an incredibly strong team to move forward with Brandon Bolin's creative vision of the project," said Matt Stevens, Maker Bros. partner, in a release. "Re-zoning the site and closing the land was a big accomplishment but we still have a lot of work in front of us."
What was a $120 million endeavor has grown into a $150 million mixed-use project featuring a 40,000-square-foot marketplace, 100,000 square feet of office space, a hotel, multi-family units, and a for-sale condo development.
The first phase, which will be underway at the end of the year, will include the renovation of the onsite warehouse into an indoor-outdoor marketplace. The marketplace will serve as the centerpiece of the project and will house maker-oriented businesses.
In a "twist" from the original plan, it will house the Saxon Pub too. "This new location for the Saxon will be one of the best places in Texas to play live music," said Bolin. The new music venue will feature a state-of-the-art listening room.
Phase II includes the 400-unit multi-family development and a parking structure. That project will kick off in 2018, when Saint Elmo originally was slated for completion.
Saint Elmo Market District will be located off South Congress Avenue near Ben White Boulevard.