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Austin Retail Should Maintain Growth in 2002

AUSTIN-The state capital could shed its stereotype of being under-retailed if development plans shift from the drawing boards to reality in 2002. The Austin market's solid in terms of retailers' interest and capital availability, says a Weitzman VP.

By Tim Green | Updated on December 30, 2001

AUSTIN-The city’s retail growth, which has made unprecedented strides in recent years, should keep going in 2002. But, as with most other areas of the local economy, the growth might not be as robust as in the past few years.

That’s the outlook from Scott Freid, executive vice president in charge of Dallas-based Weitzman Group’s Austin office. He tells GlobeSt.com that the combination of job growth, availability of capital and interest from major retailers indicates that the Austin market is solid.

Still, other portions of the economy do have an impact on what happens to retail as seen in Cencor Urban’s mixed-use Triangle project in Central Austin. Post Properties last week decided not to develop the project’s multifamily component. That could delay the planned June groundbreaking as Cencor Urban seeks another multifamily partner. “Although we thought the retail was going to be strongly in place, another aspect of the project got slowed,” Freid says.

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