The Row: A New Era of Development in Southeast Austin
Transforming Southeast Austin with The Row
Excitement is building surrounding a newly branded mixed-use community, formerly known as Velocity, now called The Row. This significant 314-acre development aims to significantly enhance the rapidly expanding southeastern market. With the arrival of Tesla's gigafactory, the area has experienced an unprecedented surge in activity and interest.
New Features and Amenities Coming to The Row
As part of its next phase, The Row will introduce a variety of retail and dining options alongside a 6,250-square foot standalone restaurant site. Additionally, this phase will include over 22,000 square feet of dedicated retail space, making it an attractive destination for both residents and visitors alike. Notably, plans for a 100,000 square feet retail expansion are underway, alongside the anticipated AC Hotel by Marriott, enhancing the residential and commercial offerings in the area.
Efforts to Foster Community Connections
Kenley Reed, the development manager, emphasizes that this project is intended to create a central hub for Del Valle residents, promoting both walkability and community engagement. The project is being designed to reflect community values while addressing the demand for more diverse and accessible retail and entertainment options.
The Design Vision Behind The Row
To bring this vision to life, Presidium has partnered with several notable design firms. Chioco Design is leading the architectural efforts, along with Blacksmith Collaborative responsible for landscaping and KFM Engineering & Design for civil engineering tasks. Their collaborative work aims to create a highly engaging and aesthetically pleasing environment for visitors.
Investment and Development Plans
Strategic partnerships are crucial to the development of The Row. PentaGrowth Capital, a California-based real estate private equity firm, is providing the investment needed to kick off the retail spaces. With initial construction expected to commence in early 2025, the project has a projected completion timeline of approximately one year.
Current Progress and Future Outlook
The Row is not just a future plan but is already making significant strides. The first phase has begun with multifamily community units set to open in February 2025, offering various apartment options from studios to three-bedroom units. This dynamic community aims to create over 7 million square feet of diversified living and commercial space, supported by abundant green areas.
About Presidium
Founded in 2003, Presidium is a Dallas and Austin-based real estate developer with an extensive portfolio worth approximately $2.6 billion in assets under management. Their mission revolves around enhancing communities while ensuring substantial returns for investors. Presidium's comprehensive approach includes a wide range of real estate disciplines, from development to property management, reflecting their commitment to fostering vibrant neighborhoods.
Frequently Asked Questions
What is The Row project?
The Row is a mixed-use development in Southeast Austin, focusing on retail, restaurants, and residential living.
What new features will The Row include?
The Row will offer new retail spaces, dining options, and accommodations such as the AC Hotel by Marriott.
When will The Row break ground?
The groundbreaking for the next phase is scheduled for early 2025, with completion expected within a year.
Who is developing The Row?
Presidium, a real estate developer with a vast experience in creating vibrant communities, is spearheading The Row.
What impact will The Row have on the community?
The Row aims to foster community connections, increase local retail options, and enhance the overall quality of life in Southeast Austin.
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