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A Dallas-based real estate firm is planning a major revamp of Austin's Sixth Street entertainment district, and one part of the plan is to boost the height of buildings in the area to 45-foot heights, the Austin American-Statesman reports.
"Sixth Street doesn't have a bar problem; it has a ratio problem," says Caitlyn Ryan, a senior VP for Stream Realty Partners, which has purchased more than 30 properties in the area over the past three years.
"Now it's just 90% bars and only 10% restaurants," she says.
"If we can even that out to add some more restaurants down there, and some more live music concepts, some more reasons for people to show up there on Monday through Friday or anywhere else during the day, that'll be what we consider successful."
Ryan says the company wants to reduce the concentration of single-serving bars in the area and to bring in more restaurants, live music venues, and arts spaces.
The city is considering a code amendment to lift the height limits on the properties Stream plans to redevelop, which would allow for more creative spaces on the ground floor.
The executive director of Austin's Red River Cultural District, which contains the district's greatest concentration of music venues, Read the Entire Article
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Social Entrepreneurship
Spotlight
Hugh Jackman: Fair Trade Entrepreneur
Renowned actor, Hugh Jackman, talks about how he started becoming a fair trade entrepreneur. Jackman is constantly building up ideas and solutions to help small coffee growers get good prices outside the massive coffee industry. His business, Laughing Man Worldwide, reinvests 100% of its profits in its partnerships with farmers.
