Lantana Place location at Southwest Parkway and William Cannon Drive in Austin[/caption]
Construction is slated to begin before the end of 2016 on a new $80 million development in Southwest Austin anchored by a Moviehouse & Eatery theater, according to the project’s developer, Austin-based Stratus Properties.
As of May 17, Stratus CEO Beau Armstrong said the site at the southwest corner of William Cannon Drive and Southwest Parkway is zoned and approved for 325,000 square feet of mixed-use development. The so-called Lantana Place project will include 140,000 square feet of office space and a potential 150-room, four-story hotel as well as restaurants and about 62,405 square feet of retail space.
“There will be hundreds of jobs associated with the development of the project,” Armstrong said.
An exact timeline has not been determined, but Armstrong said Stratus aims to break ground before the end of the year.
Moviehouse & Eatery, an Austin-based dine-in theater concept, is slated to open a location in Southwest Austin in 2018. The business offers a full bar and menu with options including salads, sandwiches and burgers.[/caption]
“These days if you can buy it on the internet it’s really not a viable strategy for retail development,” he said, adding that much like in Stratus’ Parkside Village development in Circle C, the goal for Lantana Place will be to focus on entertainment. Construction on the development will begin before the end of 2016, he said.
The target opening timeline for the Moviehouse theater is March 2018, according to Leslie Sloan, who co-founded the company along with co-managing partner Rodney Speaks.
“We get a lot of requests for a Southwest Austin location from guests who are driving 30 or 40 miles to come to us, so we’ve been looking forever,” she said.
The theater will hire between 150-170 people, she said, adding she expects the project will help get some traffic off the roads by bringing services closer to residents’ backyards.
The dine-in theater concept offers reclining chairs, seats that can be reserved in advance online and a variety of new movies as well as special screenings of films such as “Ferris Bueller’s Day Off,” Sloan said. Movie tickets range from $9.50-$12, and menu items include options such as salads, sandwiches, burgers and pizza, she said.
In 2016, Stratus Properties opened its Tecoma development’s first phase, The Santal.[/caption]
On the north side of Southwest Parkway, Stratus is also in the process of developing its Tecoma mixed-use development at 7624 Tecoma Circle, which includes its residential project The Santal. The first units of the project opened in January, and Phase 1 will consist of a total of 236 units.
“We have residents that are living there now, and we’re delivering the last buildings in July, so we’re close to wrapping up construction,” Armstrong said, noting an additional 212-unit multifamily project is now being permitted.
Separately, Stratus began construction in April on another project, Amarra Villas, which is within the Barton Creek area adjacent to the Barton Creek Canyons golf course. Work is in progress on the 20-unit project consisting of detached condominiums in the $1 million range.