Construction may soon start on Plaza Saltillo, a mixed-use development planned for East Austin, after the project got its final zoning approval from Austin City Council in early March.
Council approved the rezoning for the project, which is headed by Endeavor Real Estate Group. The site, owned by Capital Metro, will be home to a dense development that will include 800 apartments, including 141 affordable units; a public park; 110,00 square feet of retail space, and up to 120,000 square feet of office space.
The site is located on roughly 10 acres next to Capital Metro’s train tracks and between East 5th and East 4th Streets, from Comal Street to I-35. Capital Metro has owned the land since 1995, and plans to maximize the value of the site and expand ridership with this redevelopment.
The zoning limits the project to a height of 70 feet, but Endeavor does have the option to build an office building on the site that could rise as high as 125 feet.
According to the Austin American-Statesman, the office building was a point of contention right up until the end of the late-night vote. Neighborhood opponents of the project have worried about affordable units and the height of that office tower, and a flurry of last-minute amendments on the night of the vote seemed to jeopardize and then save the zoning change.
Under the final zoning approval, Endeavor will be able to build the 125-foot office tower, but to do so the developer will have to pay $600,000 that will go toward an affordable housing fund, and will also have to contribute $540,000 along with the City and Capital Metro to subsidize affordable housing.
Once construction starts, it should take about two years to complete the development, Endeavor has said. We will continue to bring you updates on the redevelopment of Plaza Saltillo as they become available.