Bank, restaurant planned near Serene Hills development

A bank, sit-down restaurant and medical offices are being eyed for a 9-acre tract of land at the northeast corner of Serene Hills Drive and Hwy. 71, according to an agent with Durhman and Bassett Realty Group Inc., the project developer.

At a July 11 Lake Travis Commercial Association Dealmakers luncheon, agent Barry Haydon said progress on the development depends on when the H-E-B across the street is built. H-E-B owns the land but has not set an official construction start date, H-E-B spokeswoman Leticia Mendoza said.

"We are always looking for new opportunities to serve our customers, and as we review our long-term planning options, it does make sense to purchase well in advance of H-E-B's current real estate needs," Mendoza said.

Durhman and Bassett purchased the 9 acres from H-E-B. Durhman and Bassett has plans to build five pad sites on the property, Haydon said.

Under the deal, the developer can not bring in a pharmacy or business that sells gas or grocery items, Haydon said.

Haydon said the largest proposed pad site, which is two stories and 24,000 square feet, is planned for medical offices on the top floor and retail on the bottom floor.

A bank and sit-down restaurant are being considered for two of the other pad sites because they would meet an area need, Haydon said.

"I want to bring something that kind of compliments what you have out here," he said.

The H-E-B–owned land and neighboring 9 acres are at the entrance to Serene Hills, a housing development planned for about 300 homes. The community is being developed by Douglas Hunter, who could not be immediately reached for comment.

Haydon said he expected the first 25 Serene Hills homes to be in the ground by mid-2013. He added that there are preliminary plans for an apartment complex to be built behind the land owned by Durhman and Bassett.

"That will be nice because there is not that much multifamily out there," he said. "We love it, too, because it is a higher concentration [of people]."



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