As Austin continues to top the lists for real estate growth in the Country, we also see zip codes become hot on the list of fastest-gentrifying neighborhoods in major American cities. These zip codes — 78702 and 78721, predominately areas located in East Austin, have seen the most substantial change in the past decade.
Just a few years ago, the stretch of city blocks from East 5th Street and East 4th Street just east of I-35 was the home to empty warehouses and illegally dumped trash that had been burned and buried. This site sat empty for just over two decades without any development and contaminated soil throughout the six-block, 10-acre span.
The land is owned by Capital Metro and includes the Plaza Saltillo MetroRail Station. The developers explained that “Saltillo” was designed to encourage people to walk, bike, and use transit. Enacting on a community plan that was put into place starting with a vision 20 years ago in order to bring the community together through improved connectivity, service offerings for the neighborhood, as well as offices, retail and residential living communities. This project was influenced by the booming neighborhoods of young professionals whom are health and fitness minded, that have flocked to East Austin.
In addition to the rail station that runs through the site, they are aiming to make Saltillo a transit hub, with below-and-above ground parking garages, electric vehicle stations and an extension of the Lance Armstrong Bikeway.
Saltillo soon plans on opening a 36,000 sqft Whole Foods and a 26,000 sqft Target, that will also contain a CVS inside. The Developers said it was important to add a grocery and connivence store to this project, as neighbors when polled previously said a top feature the community was lacking was simpler access to fresh fruits and vegetables.
Currently there are a few businesses up and running, those include:
- Club Pilates
- Chipotle
- Spectrum Communications
- JuiceLand
- Snooze
- Orange Theory Fitness
The Businesses preparing to open are:
- Target
- Whole Foods
- Cherry Blow Dry Bar
- Hopdoddy Burger Bar
- The Kebab Shop
- Enamel Dentistry
- Poke Austin
- Dolce Neve Gelato
- Nails on 5th
- Gyu-Kaku Japanese BBQ
Google will also occupy a larger office space above Target in the upcoming months.