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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,
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Social Entrepreneurship
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Building a Million Dollar Company Where Everyone Counts
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.