A 5.6 acre site on Pleasant Valley just north of Riverside has been purchased by Presidium Group, the Austin Business Journal reports.
The site currently has a few tenants, including an auto repair shop, a flea market, and a hookah lounge. At some point, the parcel had several sports-oriented businesses, as evidenced by the batting cages, miniature golf course, and remnants of a sports bar that remain at the site.
The company plans to put apartments on the land and they plan to do it soon. Presidium has also bought two other properties in the area recently, a burned down apartment complex near Wickersham Lane and East Oltorf, and two lots at 2714 and 2730 East Cesar Chavez Street. The company plans to redevelop the apartment complex, but no plans have been announced for the other lots.
The East Riverside corridor is a rapidly expanding area, with hundreds of new upscale apartments already opened and retail on the way. Single family development has also been growing, as in two nearby Milestone Communities.
The area is popular for its proximity to downtown, as well as the new boardwalk that connects trails on the south side of Lady Bird Lake east and west of I-35.