Posted on January 6, 2012 at 7:21 PM
Saturday, Jan 7 at 11:25 AM
AUSTIN -- New development at The Domain in North Austin means a new grocery store and hundreds of apartment units in the coming two years. The Domain offers a place to live, work, eat, and shop.
The new Whole Foods store is scheduled to open in the spring of 2013. It will be 55,000 square feet, include an outdoor eating area, and 300 parking spaces for customers. Several of those parking spaces will be underground similar to the Whole Foods store on Lamar.
The new Whole Foods will replace the Gateway store near 183 and 360. Customers say that store is too small and can get crowded.
“We've just outgrown that space," said Whole Foods spokesperson Rebecca Scofield. "We need a larger space and more parking spaces for our customers."
The Whole Foods will be located near North MoPac and Duval, within walking distance of the first phase of The Domain that opened in March 2007.
Two apartment complexes are also planned for The Domain. They will add more than 500 rental units to a market that is in high demand.
“We are in desperate need of apartments in Austin, and The Domain is a great location for apartment construction,” said Real Estate Consultant and President of Capitol Market Research Charles Heimsath.
Heimsath said the current occupancy rate of apartment units in the Austin area is 97 percent. Based on his research, Heimsath has found rent has increased one percent every month.
“It’s kind of a perfect storm of demand drivers. People are moving here from all over the country,” said Heimsath.