The Row's Next Phase to Break Ground in Southeast Austin in Early 2025

New name for Velocity debuts along with retail, AC Hotel by Marriott and apartments

AUSTIN, Texas, Dec. 23, 2024 /PRNewswire/ -- An evolving mixed-use project, previously called Velocity, has a new name, entertainment district and housing – all angling to serve the rapidly growing far southeast market sector.

Now called The Row, the 314-acre, mixed-use community is shaping up to be a major development node within an area that's seen a tremendous uptick in activity since Tesla built its $1 billion-plus gigafactory nearby.

Spearheaded by Presidium's co-headquarters in Austin, The Row is located at the southwest corner of State Highways 71 and 130. The project's next phase will feature a 6,250-square foot, free-standing restaurant site and an additional 22,000 square feet of retail space. Shortly thereafter, phase three will feature an addition of 100,000 square feet of retail, an AC Hotel by Marriott in partnership with Merritt Development Group, and a second 300-plus unit multifamily project located along the frontage road of SH 71. Within that space, there's room for a mix of local and national retailers, restaurants and entertainment-oriented concepts.

The new name and soon to be revealed new brand aesthetic is the result of a larger, intentional effort to bring much desired retail, restaurants, and entertainment options to this region of Austin.

"The project will create a destination for Del Valle residents and the larger southeast Austin region," said Kenley Reed, development manager for Presidium. "The Row will feature a thoughtful retail-focused district that fosters walkability and open space to build community. The new name and brand are built around creating a sense of place that reflects those ideals." 

Presidium turned to Austin-based Chioco Design to lead the retail district architectural design alongside Blacksmith Collaborative landscape architects, and KFM Engineering & Design for civil engineering. Local branding experts Asterisk Design were tapped to oversee the renaming and rebranding initiative. Dallas-based Retail Street Advisors is representing Presidium in the leasing efforts for the retail space within The Row.  Other consultant team members include LandDesign, Leap!, Bay MEP, HWA Parking, and O'Brien Architects.

The new retail phase is being developed in conjunction with PentaGrowth Capital, a California-based real estate private equity firm and a subsidiary of Biolink Capital, a global alternative asset management company, which are providing the equity for that section of the community.

That phase, which will deliver the first retail spaces for the community, is slated to break ground in early 2025 and take approximately 12 months to complete.

This next phase joins the first one that's well under way with units becoming available as soon as February 2025. Vertical framing for a 307-unit multifamily community began in March, called Del Via. The community will offer a mix of studio, one-, two- and three-bedroom apartments.

Once complete, The Row will add thousands of homes, retail space, hotels and about 100 acres of green space to Southeast Austin. It has entitlements in place for approximately 7 million square feet of space.

About Presidium
Founded in 2003, Presidium is a Dallas and Austin, Texas-based real estate developer, owner, and operator with a 22-year operating history and an existing real estate portfolio totaling approximately $2.6 billion AUM (assets under management). We represent a spectrum of disciplines, including acquisitions, development, property management, asset management, construction, law, finance, accounting, special servicing and public-private partnerships. At Presidium, our mission is to craft vibrant and unique communities, deliver exceptional returns for our partners and nurture a collaborative, supportive atmosphere for our employees. Together, we strive to make a meaningful impact on the lives we touch and the neighborhoods we enrich. For more information about Presidium, visit www.presidiumre.com.

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SOURCE Presidium