This rendering offers a glimpse of what 201 and 209 East Sixth St. will look like following a renovation of the more than 30 properties owned by Stream Realty Partners. CLAYTON KORTE / STREAM REALTY PARTNERS

Austin Business Journal reports, "a substantial facelift of Austin’s East Sixth Street will begin in the new year.

Stream Realty Partners LP said preliminary preservation work is planned to begin in early January as part of a major restoration of more than 30 properties along the popular street with Congress Avenue to the west and I-35 to the east.

The initial work will focus on restoring the facades and interiors of the Stream-owned buildings that have fallen into disrepair. The majority of interior and exterior work is scheduled to begin late in the first quarter of 2024 and early in the second quarter of the year, according to the developer.

The firm also disclosed that it will begin looking for new tenants in 2024 but it did not share if it is still actively looking for contractors to carry out the renovations.

Paul Bodenman, senior vice president of investments at Stream, said in an email that Zapalac/Reed Construction Co. is handling construction on the project. Austin firm Clayton Korte is the architect.

Stream’s vision for the district is to make East Sixth Street an all-day destination with local shops, live music and an array of restaurants. The strip of bars, shops and occasional office spaces has a reputation for drunken revelry and at times criminal activity, and Stream aims to change that. The firm, which has been acquiring property along East Sixth since at least 2020, said it intends to revive a weekend farmers market, outdoor concert series and other community events to ensure the street will remain active thorough the day.

Stream representatives previously disclosed that the project represents a $500 million to $750 million investment.

“Sixth Street is central to Austin and essential to preserving the city's vitality, and we want to bring this beloved street back to what it once was,” stated Bodenman, who is taking over leadership of the project following the departure of Caitlyn Ryan, who is now the director of the Austin-based real estate investment firm Turnbridge Equities. “We have received such positive support from the community and future tenants and are excited to see Sixth Street become a bustling neighborhood again."

The redevelopment is also grounded in plans to bolster the city’s identity as a hub of arts and music.

The firm has also previously shared plans to construct a five-floor hotel with roughly 150 rooms on the 500 block of East Sixth Street. On the 600 block, Stream plans to build a 10-story residential tower.

In July, Austin City Council unanimously approved a resolution establishing new design standards that will allow Stream to construct buildings to a height of 140 feet on the two blocks between Sabine and Neches streets.

However, it remains unclear if Stream will pursue its previous plans to build vertically.

“We are currently focused on finding the best tenants for a long-term retail redevelopment of the street," Bodenman stated. "Our main goal is doing what is right for the street and that is creating a well-balanced restaurant, bar, and retail street for all Austinites to call home. If that means going up we will consider that but it could also mean we keep the majority of the street at its current height.”

To further accommodate foot traffic, Stream also plans to remove street parking and widen sidewalks to a total of 25 feet to allow for outdoor cafes and art installations. The sidewalks are currently 12 feet wide in most places. Outdoor exhibitions will be organized by a dedicated curator.

Local design firm Clayton Korte has led the adaptation of other iconic projects in Austin, including turning a 120-year-old Victorian home in Bouldin Creek into the popular Mattie’s restaurant and event space. It also helped transform the 1920s-era Tudor Cottage facility building in Pease Park – Austin’s oldest park – into a central community space. It also drafted designs for The Albert Hotel in Fredericksburg.

Together, Stream and Clayton Korte said they intend to breathe new life into the downtown district and make East Sixth Street unlike any other in the city.

“While the surrounding neighborhoods in Austin are thriving, Sixth Street has yet to return to its full potential where it was once a booming daytime hub. By creating a consistent identity for the community, we hope to revitalize the spirit of the neighborhood and create a space that is welcoming to everyone,” stated Paul Clayton, principal at Clayton Korte.

Stream Realty Partners is a national development and commercial real estate firm that owns 660,450 square feet of commercial Austin real estate, according to ABJ list research."


Source: Austin Business Journal 

Written by: Mike Christen

Published: December 5, 2023

Posted by Grossman & Jones Group on


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