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Developers planning new creative hub in East Austin, report says

Developers plan to build on 21 acres off U.S. Highway 183. The plan will include reduced rent for businesses in the creative sector and other business communities.

AUSTIN, Texas — A new creative hub is reportedly in the works for East Austin, according to a report by the Austin Business Journal.

Central Austin Management Group plans to build hundreds of apartments and commercial spaces off of U.S. Highway 83, the ABJ reported. Developers will use 21 acres in the area for the "community-oriented, mixed-use project." 

While details are not yet solidified, the residential part of the project could include between 340 to 740 apartments with 10% of them available to those making 60% of the median family income level, per the report.

Meanwhile, the development could also feature up to 535,000 square feet of commercial space with 10,000 square feet offered at 60% of market rent to creative businesses and other vulnerable business communities.

The plan by developers also includes office spaces, restaurants, stores, areas for live music and views of Downtown Austin. Developers plan to build some of East Austin's tallest buildings there. 

According to the ABJ, the development will tackle issues such as rising affordability, low housing availability and diminishing space from the city's creative community. Developers plan to have the project finished sometime in 2025.

Read the full report by the Austin Business Journal here.

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