Mixed-use project will replace Lamar Village shopping center

Apr 17, 2014
Austin American Statesman

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


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


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


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


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


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