October 1, 2012
E. Fifth St. transit oriented development underway
Projects near Plaza Saltillo are moving forward.
The 256-unit Corazon mixed-use project has begun construction, and will feature 9,400 square feet of retail, along with 6,400 square feet of restaurant space.
That project, the first to break ground at the Plaza SaltilloMetroRail station and transit oriented development east of IH-35, is expected to be completed by 2014.
The project is a step towards realizing the vision for Transit Oriented Development on Fifth Street.
Transit Oriented Development, or TOD, is a rapidly growing trend to create compact and walkable communities with high quality design centered around transit, and offering mobility choices.
The TOD vision was created by working with community members to address issues such as connectivity, open space, and design within the realities of economics.
The TODs have a complimentary regulation and zoning framework to facilitate compact and connected development, which is a key part of the Imagine Austin plan, passed by a unanimous City Council this month.
In addition to the private development, Capital Metro is making progress on about 10 acres it hopes to develop under future private-public relationships.
An environmental assessment of the land is close to being completed.
An upcoming report, by the Texas Commission on Environmental Quality and Environmental Protection Agency, will give planners an understanding of what remediation would need to occur to develop the land.
In addition, Capital Metro expects to begin design and engineering later this year to relocate rail along Fourth Street, which will free up land for mixed-use development.
That $5.4 million track project is funded 80 percent by federal funds, with a 20 percent match from Capital Metro.