You have reached your limit of free articles this month.

Enjoy unlimited access to

Starting at just 99¢ for 8 weeks.


  • ePAPER

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks


Welcome to

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on

Developer plans apartments, retail for West Anderson Lane site


The Travis Central Appraisal District valued the building, which sits on 2.7 acres, at $4.4 million last year.

Paydar’s plans call for replacing the current building with a larger one featuring apartments and retail.

A mixed-used project is envisioned for a rapidly changing part of North Central Austin.

California-based Paydar Properties Inc. said this week it has acquired the 27 Eleven office building at 2711 W. Anderson Lane. A Chase bank branch is the primary tenant in the two-story, 31,326-square-foot building.

Other occupants include a State Farm insurance office and a property management company.

The seller was CSW Development, according to JLL, the firm that handled the transaction. Until recently, JLL was also one of 27 Eleven’s tenants.

“The execution of this transaction was extremely competitive with interest from virtually all major urban developers in Austin,” said JLL managing director Scott LaMontagne. “This was an excellent opportunity to add a potential investment property within a growing area of the city.”

A purchase price was not disclosed. The Travis Central Appraisal District valued the building, which sits on 2.7 acres, at $4.4 million last year.

Plans that JLL used while marketing the site call for replacing the current building with a much larger one featuring a mix of apartments and retail. Paydar hasn’t announced a timeline for its transformation.

Chase has another branch less than a mile away at 7600 Burnet Road. Like many other banks, Chase has been closing branches in Austin and elsewhere in recent years. A nearby drive-through facility on Shoal Creek Boulevard was shuttered in 2014, followed by six locations inside Central Texas H-E-B stores last year.

Preliminary plans provided by JLL indicate the building replacing 27 Eleven could be five stories tall, spanning 293,708 square feet. That’s about 10 times the size of the current building.

The new building could have 268 apartment units – 199 one-bedroom units spanning 756 square feet and 69 two-bedroom units in two different sizes: 1,178 square feet and 1,299 square feet.

The apartments would include an amenity area for residents.

A portion of the ground floor fronting West Anderson Lane would have 10,247 square feet of retail space, JLL’s preliminary plans indicate.

Parking for customers and residents would be available in a five-story garage with 294 spaces. That’s nine more spaces than required by the city, according to engineering, consulting and design services firm Stantec.

The proposed project is in an area that brokers say is one of the hottest parts of town right now for redevelopment.

Alamo Drafthouse Village is across the street. The former Northcross Mall, which has been transformed into a Walmart-anchored shopping center, is next door and West Anderson Plaza, home to Hopdoddy Burger Bar, Precision Camera and Sun & Ski Sports, is within two blocks.

A little further away, redevelopment is occurring up and down Burnet Road, including a Subaru dealership taking over a former discount store and a pizza restaurant that has replaced a paint store.

Reader Comments ...

Next Up in Business

Business Digest: Austin-area gasoline prices edge higher

FUEL Austin-area gas prices rise 2 cents Austin-area gas prices rose by 2 cents per gallon this week, according to auto club AAA Texas. The average local price for a gallon of regular gasoline rose to $2.09, according to AAA Texas. The price this week is 29 cents more than the same week last year, when the average price per gallon was $1.80, according...
Is it time for a switch?

Nintendo has always done things its own way, and the Switch is no different. With one foot firmly in the home console space and the other in the handheld space, the Switch offers a unique experience that lets you play where you want without much hassle. For me, this makes it the most interesting Nintendo console in a decade. Yes, there are some gimmicky...
Business Digest: AT&T says data usage doubled during SXSW

SOUTH BY SOUTHWEST AT&T: SXSW data usage doubled since 2015 AT&T users attending South by Southwest this year used more than 86.36 terabytes of data, the company said. That’s equivalent to 247 million selfies or streaming music for 122,000 straight days, according to AT&T. This year’s figure is more than double the data used just two years...
Head of Austin’s Hispanic chamber leaving for national post
Head of Austin’s Hispanic chamber leaving for national post

Mark Madrid, president and CEO of the Greater Austin Hispanic Chamber of Commerce, has resigned to take a new position elsewhere, the organization said Wednesday. Madrid, who joined the chamber in 2014, has been named executive director of the Latino Business Action Network. Under his leadership, the Greater Austin Hispanic Chamber of Commerce was...
Promoting Texas’ oil, gas industry

From left, Chris Ryan, Gabriel Briseno and Casey Abate with Cheniere Energy Partners offered demonstrations with liquefied natural gas during Texas Energy Day at the Texas Capitol on Wednesday. The event was intended to promote Texas oil and gas industry and to showcase industry technologies. RALPH BARRERA/AMERICAN-STATESMAN
More Stories