Gables and Capital City partners have joined forces to create "Pressler", a new building project in Austin on the newly revitalized West Fifth Street in Austin. "Pressler" will have 168 apartments and more than 25,000 square feet of retail space. It is slated to be up and open by March of 2008. Base rents for the commercial space will start around $32 a square foot. Capital City Partners will also be building "Capstar at Compass Plaza" which will be an office building located at the Western end of Fifth Street. It will be eight stories and 115,000 square feet. More than 90% of this building is already pre-leased to tenants. Much more is planned for this active, revitalized area that is perfectly positioned for growth.
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[...] revitalization is due to the increased energy brought to West Fifth Street by the Whole Foods Market flagship store that is located just down the road at Lamar and Sixth [...]