Developers for the Co-Op Marketplace, a 2.5-acre mixed-use project on Castell Ave. in downtown New Braunfels, hope to start construction next year.
Once complete, the Co-Op Marketplace will consist of about 27,000 square feet of leasable space. About 13,000 square feet of that space will be dedicated to a public market for local small businesses.
The overview
The New Braunfels Economic Development Corp. granted a five-year extension for performance deadlines outlined in the development’s incentive agreement during a regular meeting on Oct. 15.
A $4.5 million incentive agreement, approved by City Council in 2024, outlined several public improvement requirements to be completed by Dec. 31. No incentives have been paid to the project, according to the presentation.
Developers requested the five-year extension due to rising capital costs, tenancy issues and project redesigns, according to previous reporting by Community Impact.
Project construction has not progressed beyond initial demolition. Mike Myers, one of the project's investors, said construction would take about a year.
“I think we will all be disappointed if we’re not in construction in 2027,” Myers said. "The five-year extension is just so we don't have to do this again. But we fully anticipate beginning construction next year."
Looking ahead
Now that the extension has been granted, developers will have until Dec. 31, 2031, to complete improvements outlined in the incentive agreement, which include:
A public lawn
Splash pad
Stage
Exhibition space
Restrooms
Pedestrian connections
