Commercial development kick started by economic recovery
Although site plans for commercial development High Pointe Village, 6701 N. RR 620, Austin, were approved in 2012, owner Nancy Bui said further progress on the project may wait until the Texas Department of Transportation completes a planning study for a bypass roadway that would cut through the tract.
A 70,000- to 80,000-square-foot commercial development is proposed for the 9-acre site, she said.
Following a two-year study of ways to increase mobility in the area, TxDOT determined a bypass roadway joining RR 620 and RR 2222 would be the most feasible option for commuters to avoid navigating the intersection where the roads meet, TxDOT Engineer Mark Jones said. The feasibility study was completed in November, and the agency is set to begin a planning study that would include an environmental assessment of the proposal and public meetings, he said. TxDOT has received funding for the new study that is slated to take about two years, he said.
Bui said the bypass road would help the project gain tenants because it would create more frontage for development and alleviate RR 620 as the only access the property. She said she verbally agreed with TxDOT and the city of Austin to dedicate a right of way to construct the proposed bypass on her property.
Traffic congestion in the area is a factor for possible tenants, said Andrew Perkel, assistant vice president of Retail Solutions, the leasing agent for High Pointe Village. Prospective tenants are reluctant to sign letters of intent to commit to the project until the proposed road is built, he said.
"The traffic count is there [for a viable development]," Perkel said. "It's just [the] congestion that has retailers worried. Getting in and out of [the site] is a concern."
Bui bought the property in 2005 and developed a site plan but stopped progress on the project in 2008 when the real estate market crashed, she said.
"The [real estate] market is good enough to develop [High Pointe Village] right now," Bui said.
Three pad sites are listed for sale at the front of the project along RR 620, with the remaining sites available for lease.
Bui, who has been involved in the local commercial real estate market since 1987, said possible buyers for the vacant lots may include retail shops, a hotel, and businesses needing office space. She owns two shopping centers in Austin and one in Houston.
