If you’ve noticed the construction underway at 3500 Ranch Road 620 and wondered …
What is that?
That’s the home of the next mixed-use project in the Lake Travis area, Gateway at Falconhead.
When all is said and done, it will consist of nearly 47,000 square feet of retail space and 80,000 square feet of office space. The retail space is expected to be up-and-running first.
This has a lot of you wondering who your new neighbors will be …
Plus, when you take a closer look at Gateway to Falconhead, you’ll understand why this is just the tip of the iceberg when it comes to the never-ending build-out of Lake Travis.
Thus far, only a few tenants are confirmed. And yes, one of them is a bank — Pioneer Bank.
The other is Serasana, a wellness-focused day spa that offers things like yoga, acupuncture, massage and an herbal tea bar. Serasana will occupy a 3,500 square foot space.
Welcome to the Boomburbs
It’s interesting to examine the sales collateral for new shopping centers like Gateway to Falconhead, because you get a glimpse of why you’re so dang popular.
For example, you’re living it up in the “Boomburbs” with your impressive purchasing potential. That sounds pretty cool.
On the downside, you’re driving around with 39,000 other cars per day on Ranch Road 620 and you spend just as much — if not far more — than you earn.
Well, when you’re put on a spending potential index, you’re between 120 and 320 compared to the national average of 100.
In the marketing world, you have cool labels that make you sound important:
It’s catchy, like the name of a new reality show. “Meet the Boomburgs.” Sure, it sounds great, but what does it mean? Glad you asked.
If you break down the numbers, 46% of you are Exurbanites which means you’re either empty nesters (with a cool craft room, I bet!) or you’re married with children.
You’re financially healthy, you have a financial planner and you work from home. Perhaps the perfect gift for you is a pair of new gardening clogs?
Then there’s the Connoisseurs which makes up 30% of the community.
First of all, you know how to pronounce your label because you’re well-educated.
You’re one of the spendy folks.
You like nice things — homes, cars, clothes and vacations — and you call boating “yachting.”
The smallest demographic might just be the funnest.
You’re 33.7 years old and you’re BUSY.
Whether it’s enjoying outdoor recreation or buying the newest gadgets, you’re a busy bee.
You both work, you both earn, and you both spend.
You’re a Boomburg and 25% of the community is exactly like you.
Now you’ve gained insight as to why businesses, retailers and medical groups want to be out here. You know how our story as Lake Travis residents is being spun.
For all of the reasons listed above, you have Oaks at Lakeway and new properties like Gateway at Falconhead heading your way.
You live in “one of the fastest growing corridors in the Austin area.” That’s how it goes.
A modern look
Gateway to Falconhead will have a similar aesthetic to other new mixed-use properties in the area like Oaks at Lakeway because the builders/designers are focused on modern exteriors featuring stucco and stone with awnings, plush landscaping and a Hill Country vibe.
The rule of thumb is nobody wants the outdated “strip shopping center” anymore. That’s over.
The future of old mixed-use
If you look at Randalls shopping center in comparison to Oaks at Lakeway. Or you look at Lakeway Commons in comparison to Gateway to Falconhead, it makes you wonder …
What will happen to your older shopping centers?
How will they survive?
You think the makeover at The Lighthouse Market shopping center (located at 1700 S. RR 620) will start to happen throughout Lake Travis, so older centers can keep up with newer construction. Will those efforts work?
With all of the commercial growth in your Boomburb looming on the horizon, it’s nice to know Serasana day spa will be open to ease your stress. Because there’s always plenty of that to go around in Boomburb.