Large Townhome Development Approved by Austin City Council

At a recent City Council meeting Austin council members gave their approval for Cypress Real Estate Advisors to go ahead and begin the development of Tarlton 360 Townhomes. The development will be built on the site of the vacant Cinemark Movie Theater adjacent to Barton Creek Square Mall at Walsh Tarlton Lane and Capital of Texas Highway.  Construction time frame for the development was approved from three to 10 years.

The new development will be a mix of residential property and office complexes. John Burnham, Cypress Real Estate Advisors Vice President of Investments said, “The site is a wonderful piece of real estate, with certain demographics in the area,” and “There are obviously lots of benefits in putting the site into active use, rather than having it be an old, shuttered movie theater.”

The new development will be built in three phases beginning with 86 townhomes, followed by 140 condominiums, and ending with office and retail spaces. The project will include a total of 8,300 square feet of retail, 3,500 square feet of dining and 75,819 square feet of office and a parking garage in addition to its residential real estate.

Surrounding neighbors have voiced concerns in regards to traffic that building of the new development will bring. A recent traffic impact analysis showed that once complete, Tarlton 360 Townhomes will bring in over 4,100 trips a day.

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