The Seaholm Redevelopment is something that many have not heard of. It’s sort of old news, but I wanted to report on it because it’s moving forward through the city planning department. This East Austin development was given the ok to develop earlier this year and should start construction in 2007. The Austin Statesman reported, "The 150,000-square-foot, art deco-style power is set to be the centerpiece of a mixed-use development that will include cultural, office, retail and residential components. Potential tenants include the Texas Music Hall of Fame, and public television station KLRU and its flagship "Austin City Limits" show."

I wanted to make sure investors, owners, and interested parties knew that the current draft of plans for Seaholm are available on the City of Austin website. The concept is to bring together a mixed-use retail, residential, and arts/cultural development. The architectural drawings are very nice and it looks like the area will be popular. On the real estate front, the houses near the power plant skyrocketed in value. 50×50 residential lots are selling around $145k. This is because the area will be extremely popular, especially with the excellent view of Town Lake.

In West Austin, any real estate along Town Lake or with a view of the lake is expensive and sells/rents quickly. All signs point to any investment in this area being very well spent.

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This entry was posted on Thursday, August 24th, 2006 at 6:20 am and is filed under Books and Resources, Commercial and International Real Estate, Hot Issues and Alerts. You can leave a response, or trackback from your own site.