The Buzz About la Frontera

Issues 1-5

Issue 1 August 26, 1998

Welcome!
Hello! And welcome to the first issue of what will be an occasional information sheet designed to bring you up-to-date news about Austin and Round Rock’s newest master-planned commercial development: La Frontera. Located at the NW corner of IH-35 and FM 1325 (soon to be State Highway 45), La Frontera promises to be the region’s next major master planned center for business, retail, hotels and living. Future issues will also bring you updates on SH-45, the north extension of Loop 1 (MoPac) and other regional transportation issues, as well as other regional news. We hope you find this and future issues informative and interesting.


Austin Business Journal announces closing on land
Closing on the 227-acre Kouri tract, the major centerpiece tract of La Frontera, was unveiled in the Austin Business Journal, who broke the news in their August 17th issue. “La Frontera is a project along the lines of Austin’s Arboretum or a smaller-scale version of Dallas’ Las Colinas,” reported the Journal.


Dan Listrom to be listing broker on overall site
Dan Listrom, president of First Regional Properties, an Austin-based commercial brokerage firm, will be the listing broker on the new La Frontera development. Listrom (CCM, CLS) previously was Sr. Vice President of The Weitzman Group in Austin where for the last seven years he has handled a wide variety of commercial projects in Central Texas. Listrom’s company will oversee marketing of La Frontera to end users as well as sales to other office, retail, hotel and multi-family developers.

Dan can be reached at (512) 320-9127. First Regional Properties has offices at Austin Centre, 701 Brazos Street, Suite 500, Austin, TX 78701.


First La Frontera retail site goes under contract
A 40-acre retail site within La Frontera has gone under contract to Dallas-area investor David Berndt in conjunction with Developers Diversified REIT. Berndt and Developers Diversified have plans to potentially expand the initial 40-acre site to between 60 and 90 acres through additional purchases.

While specific individual tenant names are not yet available for release, Berndt’s team is working with a number of potential major retail anchors, restaurants, a movie theatre and a large number of additional retail users. “The first phase could feature six to seven ‘anchor-type’ stores — large, national chain stores. . . such as Barnes & Noble Booksellers or Circuit City,” according to the Austin Business Journal.


Issue 2 January 7, 1999

Developers Diversified REIT Closes on Retail Land Purchase
One of the country's largest shopping center Real Estate Investment Trusts - Developer's Diversified REIT of Cleveland, Ohio - in partnership with David Berndt Interests of Dallas, closed this week on 40 acres of land at la Frontera for a regional shopping center.  DDR is a $2 billion REIT specializing in the development and long-term ownership of regional shopping centers.

The purchase is the second for the group at this location (they also have purchased a +/- 14-acre tract contiguous to the 40 acres at la Frontera). The group also has a significant amount of additional land under contract within la Frontera that would bring the total retail development assemblage to more than 100 acres.

DDR and Berndt Interests are planning a major regional retail center that would include a Power Center with major regional anchor stores, a "soft goods" sector that would include a number of additional retailers and a department store, and an entertainment development with a 16-screen stadium-seating movie theatre and numerous restaurants. For leasing information contact Kelly Shaw of the Trammell Crow Company, who is handling leasing for the retail project,  at 512-320-5577.


La Frontera Web Site Debuts
An interactive web site with information about the proposed development sites at La Frontera as well as information on the surrounding community debuted January 1.  The site address is ww.la-fontera.com 

The web site also features links to detailed area information about the Round Rock community and Williamson County, including demographic information, workforce, education, economic development, taxes, utilities, and more.


Presentation CD ROM available through Listing Broker
Proposed development sites at la Frontera including information on proposed  roads, SH 45,  and aerial perspectives of the site are now available on a CD ROM as part of a presentation packet made available exclusively through the la Frontera listing broker, Dan Listrom, of First Regional Properties.  For additional information on sites and a copy of the CD ROM, contact Mr. Listrom at 320-9127.  The CD is self-installing and runs on both Windows and Mac operating systems.




Issue 3 February 8, 1999

Williamson County Population to Quadruple by Year 2025
The Austin Transportation Study (ATS) presented revised population estimates in late January to Williamson County commissioners illustrating the significant amount of growth that is expected. As of 1997, ATS estimates that 209,318 people are currently living in Williamson County, and that 25 years later that number will grow to some 825,716 people an increase of approximately 400% by the year 2025.

Even more startling is that ATS showed that three different population forecasts predict that more people will move into Williamson County over the next 25 years than will move into Travis County. Over the next 25 years some 622,288 people are predicted to move into Williamson County, or approximately 65,000 more than will move into Travis County according to ATS studies. At that time Travis County would have approximately 1.27 million people in addition to Williamson County's 825,000 based on ATS predictions.

ATS presented two other estimates based on US Census Bureau data and information from the State Data Center which showed similar results. Compared to ATS's numbers which show Williamson County growth of 622,000, for example, the US Census numbers predict 615,000 more residents by the year 2025.
(Source: The Round Rock Leader, January 28, 1998)


La Frontera to have significant impact on local tax base
Based on a study recently completed by Charles Heimsath, President of Capitol Market Research, the proposed la Frontera development will have a major impact on the overall tax base in Williamson County and Round Rock. The site is currently being annexed into the City limits of Round Rock at the request of the owners during the current planning and zoning phase of development.

Heimsath's numbers show a total assessed value at build-out of approximately $450,000,000 nearly a half billion dollars in combined building and land values based on projected land sales prices and estimated finished building values at the end of a 10-year build-out period.


Update: Approximately 100 acres is slated for major regional retail development by Developers Diversified REIT in partnership with David Berndt Interests of Dallas. Interest has also been high in the mid-rise and campus office sites, full service hotel, and multi-family units.


Issue 4 March 1, 1999

La Frontera Zoning Approved by City of Round Rock
Planned Unit Development zoning for the la Frontera development was approved this week (by a favorable 7-0 vote) on both readings by the Round Rock City Council.  The zoning approval, along with the final annexation vote which also occurred this week, essentially completes the "entitlement" phase of the project and all zoning is in place to move forward with development.

The project zoning allows for a variety of uses and special zoning districts (including specific heights, setbacks and floor-to-area ratios) for the proposed development of the site.  The PUD zoning imposes additional restrictions or requirements regarding unified signage, landscaping, roadway sections, medians, buffering from neighborhoods, and lighting.

Here's a recap of the approved zoning:

  • Retail - Approved approximately 800,000 sf of retail development, including a power village section, soft goods, plus cinema and numerous freestanding restaurants.  These sites have been sold and/or are under contract to Developers Diversified REIT and David Berndt Interests.

  • Mid Rise Office - Four to six mid-rise office sites are approved, with a height limitation of 10-12 stories.  Up to  1.7 million sf of office is allowed in this section.  An announcement for development of the initial site in this section is expected shortly.

  • Campus office tracts - Approximately 100 acres is designated for office campus-style tracts with a combined square footage of up to 3.6 million square feet of office.

  • Hotel - Portions of the tract would allow for full service hotel and/or limited service hotel sites.  Currently under consideration is a 300+ room, major flag, full service hotel with extensive meeting room and ballroom space.

  • Office-Flex Space - Approximately 36 acres have been designated for use for lower density office, research and development, or light assembly space.  Up to 390,000 s.f. of office-flex space approved.

  • Multi-family - Multi-family development of up to 35 units per acre approved. The maximum number of units is capped at 900 units.

  • Mixed Use - a final portion of the tract has been designated for a future mixed-use development of up to 400,000 s.f. Uses might include a grocery center and service offices.



Issue 5 April 12, 1999

Comprehensive Roadway Network Approved
Along with zoning approvals, the Round Rock City Council recently approved a proposed network of roads, to be built by the developers of La Frontera, which will not only provide major arterial access within the project itself, but also provide some measure of relief to existing area roadways.

  • Roads Now Funded: The following major arterials have now been funded by the developers. This week funds for the road construction have been placed into a cash escrow to ensure their completion.  Here's a look at the approved internal roads.

  • Hester's Crossing --  The existing Hester's Crossing (which interchanges at IH-35 north of La Frontera and has IH-35 exits ramps, signage and an overpass) will connect to Quick Hill Rd (CR 172) as a 4-lane divided boulevard to the Dell Campus.

  • Sundance Parkway -- Parallel to Hester's Crossing will be a new 4-lane arterial road called Sundance Parkway.  Sundance provides a major IH-35 entrance to the retail and shopping portions of the tract and continues through the center of La Frontera and through the office campus areas.

  • La Frontera Blvd -- This new North/South arterial originates at the existing FM 1325 and runs north to intersect Hester's Crossing and will cross under the proposed SH 45. When frontage roads to SH 45 open, La Frontera Blvd will be re-aligned slightly to become the new north extension of FM 1325.

  • Parker and Kouri -- Existing Parker Ave (which serves as an entrance to Corridor Park) will be extended across FM 1325 and into the La Frontera site. An additional parallel road called Kouri Ave will be added into La Frontera as well. Both will have turn lanes from FM 1325.

    • In summary, with all city zoning and PUD approvals done, utilities planned, and the new road system soon to be underway, La Frontera is ready for development.