Spotlight: $85M 'Villagio' Brings Mixed-Use Luxury to Northwest Austin

By DeeinAustin™

This week's spotlight focuses on the $85M mixed-use project breaking ground in Northwest Austin.

The Villagio will be located at RR 620 between US Hwy 183 and TX Hwy 71 minutes from Lake Travis. This project is sizable, with 29 acres of retail, office and luxury residences, all with an Italian style.

• 117,310 SF Retail/Restaurant space
• 31,800 SF Professional Office space
• 300 Apartments and a 5-acre lake

Who will live, work and shop at the Villagio Austin?

"The current estimated population is 106,988 in a 5-mile radius. The education level is majority individuals with Bachelors Degree and earning $50,000 to $150,000 dollars per year. The average family household income is $104,784." - Marcel Group website (developer)

The Villagio will be similar to the Domain, which is also a popular high-end mixed-use shopping community in Northwest Austin.

(Click Photo to Enlarge Site Plan)

Both rival the previously popular Arboretum shopping area. A disappointment is that the Villagio may only include rental opportunities for both residential and commercial occupants.

LIKE THIS ARTICLE? YOU MAY BE INTERESTED IN...

• Villa Muse arts and creative district.
• Mueller Austin green new urbanist community in Central East Austin.
• Leander Crossing another mixed-use, but outside Austin.
• Domain Austin shopping community in Northwest Austin.
• From the Archives: Austin Real Estate to Bloom in 2010.
• Villagio Developer Website (Marcel Group).
• What's in the works for Downtown Austin?

Photo Credit (top photo): Villagio Inn and Spa (unrelated to the Austin project)

Comments

[Anonymous]

Dee-
Is it possible this project is not going to happen? I found the land that I believe the project is slated for available here:
http://www.naicip.com/Properties/Birden/index.html

Either the listing is old, or the property is back on the market. Its hard to tell, since the flyer has dates of 2005 in the footer, but the marketing presentation has 12/27/07 as the footer date for the first few pages and then reverts to 2005 thereafter.

Thoughts?

[Dee Copeland]

Interesting! From the articles I read, it was still in the works as of March 2008. I emailed the brokers for more info on their ad.

I noticed that they were at the March 4th Austin Zoning and Platting Commission Meeting because they'd previously been denied final approval. http://www.ci.austin.tx.us/agenda/2008/zap_030408.htm. Meeting minutes are open records, so any of us can ask for final wording on that. It would be interesting to know whether the project has become less feasible.

[anonymous]

Dee, any update from the listing agent?

Keep us posted!

Thanks.

[Dee Copeland]

I haven't had anything from the agent, but didn't really expect anything. I wonder if the project is no longer viable, but doubt we'd be the first to know right?