Austin – After the Austin City Council signed a reintegration of a shopping center near South Lamar and 360 episodes in late 2023 – which was scheduled to become a small horizon in South Austin – the developer said it pumped the brakes in this project.
“With the difficult market, we are progressing with great caution,” Milo Bordett, Vice President of Development with Parchap and Ols.
Barshop & Oles said it does not have a timetable for the start of construction or when this project may be completed. He said at this stage, they are not sure whether the idea of the general project was presented to the city council several years ago.
“We don’t know if this design will be suitable for this change in the market,” said Bordet.
According to the city documents, LionStone Investments was also a major part of this development during the re -distribution phase According to CostarIt is a commercial real estate company, closed the parent company of LionStone in 2024.
Bardit confirmed that they were no longer working with LionStone – which was closed – and instead they participate in Pennybacker Capital, Austin.
“It will take more time … We are still very excited about it,” said Bardit.
What did you hear the city of Austin?
In short, not much – and after talking to Bardit, this is logical. After all, Bordet said they are still slowly progressing in the design stage.
“I have just heard from our topic experts, and we have no new information about this site,” said Ruby Cersese of the Development Services Department (DSD.
KXAN also looked at the Austin City portal on the Internet for permits that were presented through the city to start construction, and there was nothing yet.
“We have not yet received new requests for redevelopment. The type of permits required largely depends on the details of the development plan application and the site application.”
There was also a great talk during the re -development process about the need for an additional energy infrastructure to make the vision a reality, Austin Energy said it had not heard from the developer on that front as well.
“We have not heard from the developer or new drivers of this project,” said Matt Mitchell, a Austin Energy spokesman.