Real Estate Rumblings

Developers reveal plan for Austin's new and massive public market space

Real Estate Rumblings

Developers reveal plan for Austin's new and massive public market space

Saint Elmo Public Market will feature an indoor-outdoor marketplace for Austin-centric retailers and restaurants.Rendering courtesy of Andersson-Wise Architects
The development will also include a massive office space for creative Austin industries.Rendering courtesy of Andersson-Wise Architects
Saint Elmo Public Market will be located off of South Congress Avenue just south of Ben White Boulevard.Rendering courtesy of Andersson-Wise Architects
An aerial rendering of Saint Elmo shows the office and large-scale marketplace.Rendering courtesy of Andersson-Wise Architects

South Austin is getting its own Pike Place come 2018. Introducing Saint Elmo Public Market, a mixed-use development that centers around a massive indoor-outdoor marketplace.

The $120 million project will feature a mixture of retail, event, and office space designed to feature the best food, shopping, and live music in Austin. The crowning jewel at Saint Elmo will be the new location of the iconic Saxon Pub.

Developers GroundFloor and Prescott Group were inspired by markets such as Pike Place in Seattle and Mercado San Miguel in Madrid and wanted to create a similar space that is entirely Austin-centric.

"We want to build the district around what makes this city so special. The idea for Saint Elmo is to be 'native, creative, and distinctly Austin.' There is going to be nothing like it in Texas," said GroundFloor Development President and CEO Brandon Bolin in a press release Monday.

In addition to the 40,000 square feet of marketplace, there will be 225,000 square feet of convenient office space the developers hope will attract innovative companies. "The creative office space will have direct access to the public food market and surrounding spaces and will serve as the base for an incredible brain trust for Austin's creative community," said Prescott Group Managing Director Brian Leslie. "The project will feature attractive green space, walkable gardens, rooftop access, and event venue space throughout."

Saint Elmo Public Market will sit on more than 10 acres off South Congress Avenue between Industrial Boulevard and St. Elmo Road, just south of Ben White Boulevard. The market is taking over the land surrounding the old Office Furniture Now warehouse, which will serve as the "physical and inspirational centerpiece" of the project, according to the market's designers Andersson-Wise Architects.

Construction of Saint Elmo Public Market is scheduled to begin mid-2016, with completion slated for the beginning of 2018.

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First-time Homebuyers Guide

Spring Showings

Competition among Austin-area homebuyers set to heat up in mid-April

This newly listed home in South Austin (7337 Menchaca Rd. Unit 31) shows how nice a spring open house can look. realtor.com

If you’re a first-time homebuyer in the Austin metro area, beware of mid-April.

A new study from Austin-based Realtor.com shows that in 2025, the best time to list a home for sale in the Austin area is the week of April 13. This translates into stepped-up competition among homebuyers during that time frame.

Why is the week of April 13 such a popular time to put a home on the market in the Austin area? Brandy Wuensch, president of the Austin Board of Realtors and Unlock MLS, offers three reasons:

Springtime offers a pleasant climate for open houses, leading to more potential buyers touring homes.
Buyers often prefer to move in the spring so they can settle into a new home before the start of the school year in the fall.
Homes listed during this week historically generate more buying activity, and can sell more quickly and at higher prices compared with earlier in the year. According to Realtor.com, the list price of a typical Austin-area home during the week of April 13 is $47,000, or 9.6 percent, above what the list price would have been at the beginning of the year.

“This period tends to hit the sweet spot — buyer demand is high, inventory is still manageable, and sellers are well-positioned to benefit from heightened competition,” says Wuensch, founder and broker-owner of Cedar Park-based City View Realty Group.

For homebuyers, especially first-timers, that heightened competition could be an obstacle in the hunt for a home.

Wuensch says homebuyers should be ready to quickly pounce on a desired home during the week of April 13. She recommends that buyers obtain mortgage pre-approval ahead of that period to demonstrate they’re serious about making a purchase.

“With homes likely to receive multiple offers, be prepared to make swift and competitive bids,” says Wuensch.

Also, determine in advance your must-haves and nice-to-haves before wading into the crowded pool of buyers, she advises.

“Staying informed about market activity and working closely with a professional agent can give you an edge, offering timely insights and access to new listings as they hit the market,” Wuensch adds.

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