Developers who were behind much of South Lamar’s growth in the last few years started to realize that many businesses couldn’t afford the rent on that busy corridor and started looking for the next hot area for businesses. They found a lot of potential on South Congress.
SoCo Park, which has 41,500 square feet of commercial space, was recently purchased and is being renovated with a modern facade and the removal of hedges that were hiding the property. It will soon be leasing for $18 to $24 per square foot and is just south of Hill’s Cafe.
Other new projects include Sur512, a high-end apartment community that just completed its second phase.
Another project is Public, which will have 150 condo lofts and 10 live-work spaces. 150 of the condos are under contract and the community is scheduled to be completed in the Fall.
The Yard, which will be a mixed use project incorporating industrial and warehouse space is in progress.
Saint Elmo Public Market District at St. Elmo and South Congress was announced 3 years ago, but is currently in delays with the city.