Endeavor, Columbus Realty to redevelop 11 acres in downtown Austin
Jun 24, 2014
Austin Business Journal
Endeavor and Columbus Realty have won the competition to develop the Plaza Saltillo site downtown after hours of deliberation and a split that deadlocked the eight-person Capital Metro board twice
With the decision made, Endeavor's team will negotiate further with Capital Metropolitan Transportation Authority staff and reach a specific deal over the next few months to redevelop the 11-acre site just east of I-35 in downtown Austin.
The result could be as many as 800 apartments, shops and a grocery store located on the now-vacant lot that surrounds a MetroRail stop. It's Capital Metro's biggest transit-oriented development deal since the commuter line started running from Leander a couple of years ago, and it will almost certainly allow the developers to make a lasting impact on the quickly changing Central East Austin neighborhood
To land one of the biggest real estate deals this year — the site is eight contiguous blocks — Austin-based Endeavor Real Estate Group and Dallas' Columbus Realty Partners overcame a number of Austin's most notable developers. On June 23, the board chose the Endeavor team over competing finalist Saltillo Collaborative, which included Austin's Constructive Ventures and Dallas-based Trammell Crow Co.