breaking news

Winter storm warning until 6 p.m.; drivers to face risks of ice, winds

Mixed-use project will replace Lamar Village shopping center


After waiting more than 30 years for the right moment, Highland Resources says now is the time to redevelop a key piece of property it owns in Central Austin.

The Houston-based developer plans to a raze the single-story Lamar Village shopping center at West 38th Street and North Lamar Boulevard this summer and replace it with a four-level, mixed-use building that should be open by fall 2015, president and CEO Charles Wolcott told the American-Statesman.

Most tenants in the center have already moved in anticipation of the project, Wolcott said, including Precision Camera and Russell Korman Fine Jewelry.

“We’ve been very happy with the property,” Wolcott said. “It has been performing well for us, so we weren’t in any hurry.”

But with the region’s commercial real estate market tighter than it has been in recent memory – and with more new-to-Austin firms looking for space – Wolcott said he believes Highland Resources now has the “right traction” to move forward.

The new building, which will be called Lamar Central, will include 34,000 square feet of ground-floor space for shops and restaurants topped with three levels of office space totaling 128,000 square feet. Parking will be in a garage with more than 600 spots.

No leases have been signed, but Wolcott said he is “highly confident” in demand for the space.

“There are many people who have wanted to be on this corner for a long time,” he said.

Although the site is adjacent to Seton Medical Center, Heart Hospital of Austin and several medical office buildings, Highland Resources intends to focus its marketing efforts primarily on tech firms, Wolcott said.

“One thing that has been very important to us is to have an innovative property that’s reflective of the city,” Wolcott said. “The conversations we’ve had in the marketplace have led us to believe this space is perfect for tech companies and other forward-thinking companies.”

Amenities in the building will include floor-to-ceiling windows, direct garage access on each floor, buried utility lines, energy-efficient features, a landscaped courtyard with spots for patio dining, car-charging stations, bike storage space, showers and changing rooms.

“Being near downtown – without actually being in downtown – is appealing to a lot of people,” Highland Resources vice president David Bodenman said. “We’re focusing on firms with young workers who are willing to bike, use mass transit or walk.”

In addition to Lamar Central, Highland Resources has several other Central Texas projects, including retail and office complexes and the Highland Horizon and Sendero Springs communities in Round Rock.

“We’re deeply connected to Austin,” Wolcott said. “Our Austin operations are comparable to what we have in Houston. It’s a very important area to us.”


Reader Comments ...


Next Up in Business

Top Local Business Stories of the Week
Top Local Business Stories of the Week

TEXAS ECONOMY Dallas Fed says Texas job growth will rebound to 3 percent this year: With the Texas economy “firing on all cylinders,” statewide job growth will accelerate in 2018, but the increasingly tight labor market here and across the country will limit the surge, according to a forecast from the Federal Reserve Bank of Dallas. The...
Up the Ladder

Consulting Bridgepoint Consulting has named Vijay George as director of its technology consulting practice. Finance Casoro Capital has named Joy Schoffler chief strategy officer. Health care Heart Hospital of Austin has named Seth Herrick chief financial officer. Software Rimidi names Josh Claman chief executive officer.
In Texas, could immigration crackdown cause a worker shortage?
In Texas, could immigration crackdown cause a worker shortage?

Some local and state business leaders — including owners of construction companies, high-tech executives and restaurateurs — say they worry the Trump administration’s crackdown on certain categories of immigrants previously exempt from deportation could cause problems for an already stretched Texas workforce. The administration says...
Texas employers worry immigration crackdown may cause worker shortage
Texas employers worry immigration crackdown may cause worker shortage

If it weren’t for people allowed into the United States under temporary work permits, Bill Carson doubts he’d be in business in Travis County. The owner of Native Texas Nursery — a 40-acre tree and plant farm in East Austin — says he has trouble hiring U.S. citizens for the physically demanding, outdoor labor. “And in...
350-unit luxury apartment complex planned near The Domain
350-unit luxury apartment complex planned near The Domain

A local developer is building a 350-unit luxury apartment community near The Domain in North Austin. Oden Hughes said this week that it has started construction on the 10-acre Lenox Ridge complex at the southeast corner of North MoPac Boulevard (Loop 1) and Scofield Ridge Parkway. Completion is expected in early 2019. The Domain and surrounding areas...
More Stories