Belterra to gain retail stores, restaurants[/caption]
Developers of Belterra Village, a 93-acre, mixed-use commercial development located near the intersection of West Hwy. 290 and Nutty Brown Road, or about 6.5 miles east of Dripping Springs, have secured multiple local and national tenants, including Torchy’s Tacos; Jersey Mike’s Subs; and Spec’s Wine, Spirits and Finer Foods.
The project, scheduled to begin opening in mid-2017 with a phased completion in the next five to seven years, has a total of 200,000 square feet for housing, senior housing, restaurants, retail shops, office space, medical space and hotel space.
Other tenants who have leased space in Belterra Village include Pet Supplies Plus, Serasana, Breed and Co., Orange Leaf Frozen Yogurt, Great Clips, Mama Fu’s Asian House and Dunkin’ Donuts, according to developer Endeavor Real Estate Group. The development also has space for 10 acres of hike and bike trails, anchor restaurants and a movie theater.
On June 20, Endeavor and co-developer Crescent Communities announced Sky Cinemas, a 14-screen movie theater from Violet Crown Cinema in downtown Austin, as the first anchor tenant for Belterra Village.
Endeavor and Crescent Communities first announced the project May 18, 2015.
The creation of a real identity and community gathering spot in a mixed-use development is important, Endeavor Principal Daniel Campbell said to Community Impact Newspaper in 2015.
Endeavor has previously worked on North Austin mixed-use center The Domain.
Several tenants in the 47-acre first phase plan to move into Belterra Village within the next 12 months.
Based on the demand, the planned five- to seven-year construction timeline may be influenced, Campbell said in 2015.
Belterra Village will primarily serve residents in the Belterra master-planned community, Dripping Springs, Oak Hill and surrounding Southwest Austin areas. The East Dripping Springs and Southwest Austin submarket has a population of more than 54,000 people, about 27,515 vehicles per day on Hwy. 290 and an average annual household income of more than $116,000, according to Endeavor.
“We want to build where people want to go,” said Jeremy Smith, senior director of design and construction for Torchy’s Tacos. “One of the first things we look for in a new market is if it is somewhere where our employees want to go to or live in.”
Smith added that Torchy’s receives many requests for restaurants inside and outside Texas, but the company strategically chooses its locations based on demand and the position it is offered within the development.
Sherrie Parks, Dripping Springs Chamber of Commerce executive director, said Belterra Village will boost sales tax revenue for the city of Dripping Springs and have a positive impact on the economy of the Dripping Springs area.
“As the chamber of commerce, we look forward to families having the choice to stay in the area for family entertainment options and having the availability to shop locally for items rather than having to drive to Austin,” Parks said.
The Hwy. 290 corridor from Southwest Austin to Dripping Springs will be the growth engine for Austin in the next five years, Campbell said in 2015.
A demand for services
The planned Torchy’s Belterra Village location faces Hwy. 290 near the center of the property, according to Endeavor’s leasing plan rendering.
As the 13th brick-and-mortar Torchy’s restaurant in Greater Austin, the restaurant fills in the service gap between its Shops at Arbor Trails restaurant on William Cannon Drive and its upcoming Lakeway location on Medical Drive, Smith said.
“We have gotten a lot of requests from customers to go out there [to Dripping Springs],” Smith said. “We were waiting for the right opportunity, and this new development by Endeavor was the perfect opportunity to be front and center on Hwy. 290.”
Dale Mulvey, co-owner of several Austin Dunkin’ Donuts locations, is also opening a new location in Belterra Village.
“We receive regular requests from our Dripping Springs-area customers that we make their daily coffee stop more convenient,” Mulvey said. “We are excited to be getting that accomplished.”
Like its more recently built Greater Austin locations such as its flagship restaurant on South Congress Avenue, Torchy’s Tacos plans to work with the developer to influence the design of the building, Smith said.
For national sandwich chain Jersey Mike’s Subs, its upcoming Belterra Village location would serve customers who currently have to go to its Hill Country Galleria and Shops at Arbor Trails locations.
From a design standpoint, Belterra Village may be similar to the Shops at Arbor Trails because of its mix of shopping, entertainment and services with a walking and running trail throughout the property, said Mike Cullen, owner of the upcoming Jersey Mike’s Subs in Belterra Village.
“My family and I live in Southwest Austin, so we’re always interested when new developments are announced,” Cullen said. “The fact that we get to be a part of Belterra Village makes it that much more exciting.”
Growth of Hwy. 290 corridor
[polldaddy poll="9452405"]East of Belterra Village along Hwy. 290 are several smaller retail centers, including Southwest Center at 9521 W. Hwy. 290 and Cedar Valley Village at 11601 W. Hwy. 290. Tenants at Southwest Center include local fast-casual eatery Lox, Box & Barrel, and future tenants at Cedar Valley Village include Papa John’s Pizza and local coffee shop Summermoon Coffee Bar.
Sean Gildea, a leasing broker for Cedar Valley Village, said retail traditionally grows after a critical mass of homes are built.
The affluent housing market along the corridor is strong and will continue to be strong, Gildea said.
“Homes out on Hwy. 290 are going to be [more expensive] than in other parts of town,” Gildea said. “I see the growth continuing, and I don’t think it will stop until the area is well-saturated with homes. The place is very desirable to live in because of how close it is to lakes and to Austin itself.”
Endeavor and Crescent Communities officials were unavailable for comment as of press time June 17.
