Jon Snyder of International Development Management gave a sneak peek into the future of The Backyard and The Terrace development projects at the LTCAD meeting on May 13th! The $250 million development proposed for the Backyard music venue property received approval from Bee Cave zoning and planning officials last Fall. According to Snyder’s presentation, the development timeline now shows Site Plan Approval in Q4 of 2015, Groundbreaking in Q1 of 2016, and the 1st Building Deliveries in Spring 2017!
Site plans for the project describe The Backyard being redeveloped to house four movie and television sound stages to be known as Supernature Studios, three four-level class A office buildings for a total of 335,000 square-feet of office space, a 125-room hotel, a 500-person capacity private party venue, a 3,410-person capacity Live Oak amphitheater, 16,000 square-feet of restaurants/ meeting space/ retail, a trail system and parking garages.
The Developer told the Austin Business Journal that the first phase of the project would likely be delivered by mid-2017. The second piece – on property adjacent to the Backyard known as The Terrace – would be completed two to three years afterward.
The Terrace property is planned to hold two four-level class A separate office buildings for a total of 250,000 square-feet of office space, three residential condominium buildings with parking for a total of 120 single-family condominiums called “Ethan’s View”, and 6,500 square-feet of assorted restaurants/ retail.
They are expecting Condo Sales Center Grand Opening as early as August 2015!
Regarding the proposed sound stages – Milam said the growth of television, commercial and music recording work in Central Texas will be enough to generate business for the sound stages to keep them booked without having to aggressively market the facility to West Coast studios and film projects. The U.S. Media and Entertainment Industry market reached $546 Billion in 2014. The industry includes: motion pictures, television and commercials, music and audio records, radio, and games and publishing.
To learn more visit: http://www.thebackyard.net/
Source: Jon Snyder, International Development Management, Director of Planning & Development