G
ood afternoon and welcome to Building Austin, our weekly newsletter covering real estate, growth, and development in the Austin region. I'm Shonda Novak, the American-Statesman's real estate reporter.
The developer of EastVillage has announced its first retail tenants for the massive mixed-use project under construction in Northeast Austin. Spanning 425 acres along East Parmer Lane, directly across from Samsung Austin Semiconductor's plant, EastVillage is being developed by Reger Holdings LLC, a New York-based real estate investment and development company.
The initial retail lineup includes Club Studio, a high-end gym and wellness concept; Swish Dental; and 810 Billiards & Bowling, an upscale entertainment, dining, and bar concept. The latter serves craft beer, burgers, pizzas, and salads, along with entertainment options like bowling lanes, pool tables, sport simulators, axe-throwing lanes, and an arcade.
These tenants are set to open in the next 12 to 14 months, while Swish Dental is expected to open within the next 30 days. The initial tenant lineup brings "the perfect combination of fitness, entertainment, and medical services" that the Tech Ridge Corridor has been seeking, according to Gordon Reger, president and CEO of Reger Holdings.
Once completed in the coming years, EastVillage will feature:
* 375,000 square feet of retail, restaurant, and entertainment space
* 1.5 million square feet of office space for life sciences firms and traditional office users
* 2,400 apartment units
* 466 single-family homes
* Three hotels with 429 rooms
* A 150-acre park with over five miles of hiking and biking trails
EastVillage is expected to be home to 10,000 residents, with an estimated completion time frame of 2030-2032. The first apartment phase, called The Vaughan, is already open, while the second phase, The Janis, is under construction.
Madison Realty Capital has provided over $200 million in financing for EastVillage, and discussions are ongoing with additional funding sources for future phases. Gordon Reger said that EastVillage will fill a much-needed demand for those wanting to live, work, and play in one convenient location.
