314-acre Velocity development in southeast Austin begins construction
AUSTIN (Austin Business Journal) — A sprawling mixed-use development in Southeast Austin is budding out of the dirt years after it was first announced.
Velocity, a 314-acre master-planned district entitled for seven million square feet of space and situated east of Austin-Bergstrom International Airport, began vertical framing for the ambitious development’s first phase in mid-March. The first piece to rise will be an “urban-style” apartment community, according to a March 21 announcement from Dallas-based Velocity developer Presidium Group LLC.
Once complete, Velocity will add thousands of homes, retail space, hotels and about 100 acres of green space to southeast Austin.
In 2020, KXAN reported part of the initial site purchase was sold to H-E-B in 2016. The grocery company has not made any announcements about the land. Since then, Austin leaders and community members have called for H-E-B to build a store in the area considered a food desert.
The development will be located southeast of Highway 71 and State Highway 130 near Del Valle and the Austin-Bergstrom International Airport, according to the developer.
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