Market briefs
Austin area: Retail Construction Steps Up at $280M Project
In Kyle, Texas, NewQuest will ramp up the next phase of retail construction at Kyle Park, a $280 million multi-use project 20 miles south of Austin.
The 101-acre multi-use development, located at Interstate 35 and Bebee Road in the city of Kyle, is planned for 400,000 SF of retail, 421 apartments, and a hotel.
Houston-based NewQuest will accelerate retail site work in mid-September on 272,704 sq ft of multitenant space for a row of junior anchors, and four buildings along the newly built Kyle Park Avenue. Work on the site’s infrastructure began in February.
“Kyle Park is about creating something truly special for the community and a destination that draws people from across the region. We want to give Kyle residents more reasons to stay, shop and dine locally while bringing new visitors and dollars into the city,” said Andrew Alvis, senior vice president and development partner for NewQuest.
Kyle Park will serve a growing region of Hays County. Kyle’s population has grown to nearly 70,000, up from 45,700 in 2020, as stated by the U.S. Census Bureau. Big employers in the area include Ascension Seton Hays, Tesla, Amazon, FedEx, and Lowe’s.
The plan for Kyle Park incorporates a wide landscaped walking path with a pavilion, shaded seating, and a replica of the city’s landmark water tower between two rows of specialty shops.
The upcoming site work will concentrate on junior anchor space that will house a dozen retailers, including EoS Fitness, Boot Barn, Miniso, Barnes & Noble, TJ Maxx, HomeGoods, Burlington, Dick’s Sporting Goods, and America’s Best. The spaces are slated to be turned over to retailers to build out their spaces in September 2027.
At least 15 pad sites are planned along I-35, where NewQuest has 3,200 feet of frontage, plus more along Bebee Road.
Other planned tenants include AusTea, BJ’s Brewhouse, Chili’s, Dave’s Hot Chicken, Gringo’s, Pacific Dental, Scooter’s Coffee, and more.
Kyle Park is a strategic anchor for the city’s Vybe trail system, which is planned to connect retail centers, restaurants, and neighborhoods.
Nearby, Houston-based Transwestern Investments has started construction on Kyle Commerce Center, a 328,256-SF industrial development on 28 acres at 278 Republic Drive. The project is being developed in a joint venture with Balcones Real Estate Group.
