Barshop & Oles is in the clear to transform the Brodie Oaks Shopping Center in South Austin.
The developer received final rezoning approvals from Austin City Council, paving the way for a sprawling mixed-use project at 4040 South Lamar Boulevard, the Austin Business Journal reported.
Barshop & Oles, in partnership with Houston-based Lionstone Investments, aims to redevelop the 38-acre site into a nine-building complex, with the tallest one possibly rising 25 stories.
At full build, the development could include 1,700 residential units, a 200-room hotel, 1.2 million square feet of office space and 140,000 square feet of ground-floor retail and restaurant space. Roughly 200 units will be reserved as affordable housing.
The project’s design could be finalized later this year, and construction is expected to start in 2025. While the first phase could be delivered in 2027, the development in its entirety will take roughly a decade to complete.
Barshop & Oles’ previous proposal required some adjustments, as the city council wasn’t fully on board with the project. Now, Austin officials are in support of the development due to its increased density, while reserving 20 percent of the property for open space, including 7.5 acres for parks.
“It is a huge improvement,” council member Ryan Alter told the outlet. “That is one of the biggest reasons we are supporting this development. It will reduce sprawl and limit our environmental impact.”
Barshop & Oles will pay about $4 million in parkland dedication fees. The property is valued at roughly $90 million by the Travis Central Appraisal District.
—Quinn Donoghue
Read more
Development
Austin
Barshop & Oles’ Brodie Oaks mall agreement needs fine tuning
Development
Austin
Barshop & Oles plans transformation for Brodie Oaks shopping center
Development
Austin
Details emerge on Trammell Crow’s 1,000-unit plans in South Austin