AUSTIN (KXAN) — Monday board members will narrow down the final four developers who want to take on the Plaza Saltillo project down to two.
The Plaza Saltillo development project covers undeveloped blocks across 11 acres on East 4th Street and 5th Street from Comal Street to Interstate 35. Plans include creation of green spaces, and construction of condos and stores in the area.
The four firms CapMetro is considering are Argyle Residential/Cypress Real Estate Advisors, Endeavor Real Estate Group, Riverside Resources and Saltillo Collaborative.
“All four plans would improve neighborhood quality, maximize long-term value for Capital Metro and increase ridership,” CapMetro President/CEO Linda S. Watson said. “Throughout this process, we asked developers to identify the best possible use of the land within the context of the neighborhood and based on the quality of the proposals we’ve received, they’ve delivered.”
Community feedback during previous public hearings have been key during the selection process.
“We have a really good sense for what the community is interested in seeing here,” Watson said. “They had a significant role in helping us define that.”
Part of this transformation project is designed to increase MetroRail ridership, and help bring new revenue to this section of Austin. The board will then make their final selection June 23.
Plaza Saltillo served as Austin’s train depot for 100 years until it was abandoned in the 1980s. CapMetro purchased the property in 1995 with plans to incorporate it into future light rail service. In 1997, Capital Metro leased one acre to the City of Austin for Plaza Saltillo, a Mexican-style plaza named for Austin’s sister city Saltillo, Coahuila in Mexico.