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$40M Mixed-Use Development Gears Up Again

Work toward rounding up financing and contractors for the $40 million East Sixth Street project resumes after a title problem is resolved. Construction is expected to break ground in six to nine months.

By Tim Green | Updated on March 07, 2002

AUSTIN-Developers have resumed work toward an East Sixth Street mixed-use project with efforts on financing and city planners and the project’s neighbors. The multi-building parcel at 1001 E. Sixth Street is to offer 100,000 sf first floor retail, including a grocery, shops and restaurants; space for offices and service buisnesses; and 80 residential units. The project will be built around courtyards, plazas and terraces. Parking will be underground. The Austin firm Cotera, Kolar, Negrete and Reed is the lead architect on the project.

Work on the project, called Nuevo Mercado, halted for nearly six months while developers ironed out a title problem. Now, Steve Bauman and Robert Anderson of Z Development, LLC are getting into building the $40 million project that would brings, shops, offices and residential units to a square block occupied by an abandoned grocery, houses-turned-into-businesses and shacks. It’s about seven blocks from the Texas capitol.

“We’re heading into our final pieces of the working drawings, putting financial partners into place,” Z’s president Bauman tells GlobeSt.com. “We lost a few in the process of the title glitch, that plus Sept. 11. Then we’re starting into our construction capital process as well.”

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