COST OF COMMERCIAL BUSINESS OVER THE YEARS Retail and office sales prices per square foot have been on a steady incline for the past 10 years in the 78757 ZIP code, which includes Burnet Road stretching from 183 to RM 2222. Retail Office
Properties CEO Beau Arm- strong said. The project is expected to break ground in May, and the expected com- pletion date is spring 2024. The former Maund Imports site was demolished in mid- April, though there are no offi- cial plans for this property at the moment, according to the contractor for the site, River- side Resources Construction Manager David Pryor. Farther north, a rezoning permit for a strip mall occu- pied by Austin Bead Gallery, Slick Willie’s Family Pool Hall, Nosh & Bevvy and The Common Interest Karaoke Bar, was filed to change it from commercial use to mul- tifamily use. There is also an approved site plan for 7001 Burnet Road, Austin, the lot sur- rounded by a rainbow-fence, for office and retail space. Plans to demolish 6502 Burnet Road, Austin were filed in early April. The doc- uments have not yet been approved and no site plan has been released to show the
scope of the planned work. Impact on local businesses The new developments along the Burnet corridor have different impacts on sur- rounding businesses—growth for some and possible closure for others. Austin Bead Gallery has been in business at 8440 Bur- net Road, Austin for about four years. Owners Sally DeGraffenried and Laura Zeiner received notification from the city about the site being sold and rezoned from commercial use to multi- family use a year ago, which will eventually force them to move—a process that will be expensive and daunting, Zeiner said. “I think Sally and I both enjoyed being local business owners and getting to know the community. It’s a real shame,” Zeiner said. Austin Bead Gallery is expected to remain open until the lease for the building expires, which is in October 2023. Endeavor Real Estate
300 250 100 150 200 0
2012
2013
2014
2015 2016
2017
2018
2019
2020
2021
2022*
*AS OF MARCH 31
SOURCE: AQUILA COMMERCIAL/COMMUNITY IMPACT NEWSPAPER
The Aristocrat Lounge, has seen changes to the neighbor- ing businesses. The city has fewer indie shops in the area compared to larger chains, Kalman said. “It makes for a more stress- ful environment to do busi- ness in,” he added. Although the new develop- ments in the area are putting a strain on smaller businesses, Kalman is still able to see a positive future for The Aris- tocrat Lounge with a higher density of potential new regu- lars moving in the area.
It is the city’s goal to accommodate both residents and local business owners, Pool said. “We need to leverage our major corridors for more housingwhile also advocating for the small, local businesses struggling to emerge from the pandemic, particularly on Burnet Road,” she said in a statement. “I feel confident we can do both.”
Group is the company that bought the shopping center, according to city documents. The property is roughly 4.1 acres in size, and city doc- uments show 399 proposed units in the development. Commercial property val- ues keep increasing every year, according to Aquila Commercial data. Retail sales price per square foot increasedby43.65%in the last 10 years, and office sales price per square foot increased by 60.09% in the last 10 years. Austin Kalman, owner of
For more information, visit communityimpact.com.
TWO LOCATIONS
NEW CENTRAL AUSTIN LOCATION NOW OPEN
Swimming is a critical life skill and a lifelong fitness activity.
WHY WATERLOO?
• Learn to Swim • Swim Fitness / Home School • Adult Lessons and Fitness • Summer Camp and Classes PROGRAMS AT WATERLOO
• SAFETY! Chlorinated/UV Filter Pools • Low instructor: student ratios • Curriculum that gets results! • Trained Instructors...we do this year round • Two indoor heated pools
3200 W. ANDERSON LN. � AUSTIN � NEAR MOPAC � WATERLOOSWIMMING.COM
23
NORTH CENTRAL AUSTIN EDITION • APRIL 2022
Powered by FlippingBook