H & M store is on its way to Bee Cave

David Bass, Director of Asset Management for Invesco, addresses Bee Cave Chamber of Commerce members on changes proposed for the Hill Country Galleria Oct. 14.

David Bass, Director of Asset Management for Invesco, addresses Bee Cave Chamber of Commerce members on changes proposed for the Hill Country Galleria Oct. 14.

If all goes according to plan, the second Austin-area H&M store will open its doors next fall at the Hill Country Galleria, 12700 Hill Country Blvd., Bee Cave, Invesco Real Estate Director David Bass said. Bass, who heads the asset management for the investment group of the center's owner, made the announcement during a presentation to the Bee Cave Chamber of Commerce Oct. 14.

Several tenants will be relocating toward the Dillard’s end of the mall to make way for the Swedish-based clothing retailer including Cafe Blue, Chisos Restaurant and Backwoods.

Bass said Invesco is preparing to work with the city on a $16 million project to refurbish the outdoor mall. He said the company’s research showed a majority of residents in and around the Hill Country Galleria—more than 60 percent within a 15 mile radius—leave the area to purchase their primary non-necessary items.

Bass said the project will enhance the tenant mix of the mall, help current retailers and provide aesthetic changes to the mall including adding seating, shade awnings and improving the town center.

“The town square is really the heart of Bee Cave,” he said.

Mall tenants will be rearranged so centers—such as fashion and dining—will be created, Bass said.

Bass estimates that the project may bring in a minimum of $3 million additional revenue to the city.

"Only $200,000 out of our $10 million budget per year comes from property taxes," Bee Cave Council Member Kara King said of the impact the city's sales tax has on its administration. "This means we can continue running our budget without raising taxes. You have to shop local."

Bass said construction is projected to begin in early 2016 and estimates the project will be complete by fall 2016. He said although he has been working with the city on the project, approval of the plans has yet to be granted.